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Mato Grosso farmers cut second-crop corn planting by about 10% because low prices pushed them toward alternatives such as canola, sesame and pulses. The state's soy harvest barely covered costs after El Niño heat and dryness.
Lower Brazilian safrinha corn area reduces competition for US corn exports in the second half of the year, which is mildly supportive for corn prices.
agriculture.comReutersApr 23, 2024After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% 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.
