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As of late the prior week, Brazil's safrinha corn harvest was 4.7% complete, ahead of 1.4% a year earlier, according to AgRural. Parana's Deral cut its safrinha corn estimate by 300,000 tons to 13.2 million tons, citing hot and dry conditions, which puts the crop 7% below 2022/23.
A smaller Parana safrinha crop tightens domestic Brazilian corn supply for feed use and export, supporting corn and DDGS prices, though early Mato Grosso yields are satisfactory.
ukragroconsult.comJun 12, 2024After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
