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A blocking high-pressure system is keeping central Brazil hot and dry, likely producing a poor finish for safrinha corn in Parana, southern Mato Grosso do Sul and Sao Paulo. Corn leafhoppers in Parana are adding pressure, while Rio Grande do Sul suffered severe flooding.
Yield losses in south-central Brazil reduce expected export supply of corn, supporting prices for corn and related feed ingredients.
ukragroconsult.comMay 10, 2024After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
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.
