# As Corn Retreats, Brazil’s Leading Grain State Bets on Alternatives

> 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.

- Date: 2024-04-23 · published 2024-04-23T12:00:00.000Z
- Category: trade · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/13576-as-corn-retreats-brazil-s-leading-grain-state-bets-on-alternatives
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

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.

## Read by commodity

- CORN: bullish ▲
- CANMEAL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-04-30 | [China Boosts Low-Tariff Corn Imports as State Reserves Drop (1)](https://feedsoft.ai/events/53501-china-boosts-low-tariff-corn-imports-as-state-reserves-drop-1.md) | +1.9% | +2.3% |
| CORN | 2022-03-03 | [Council’s Long-term Investment Pays Off as China Becomes #1 Export Destination for U.S. Corn - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/14951-council-s-long-term-investment-pays-off-as-china-becomes-1-export-destination.md) | -0.0% | +7.3% |
| CORN | 2019-04-18 | [United States Wins Dispute Finding China’s Administration of Grain Tariff-Rate Quotas Breaches WTO Commitments \| USDA](https://feedsoft.ai/events/59449-united-states-wins-dispute-finding-china-s-administration-of-grain-tariff-rate.md) | -1.7% | +1.8% |
| CORN | 2019-12-16 | [Brazil Corn Stocks Tight, Companies Already Importing Corn - 16.12.2019](https://feedsoft.ai/events/55419-brazil-corn-stocks-tight-companies-already-importing-corn-16-12-2019.md) | +4.2% | +4.8% |
| CORN | 2019-03-22 | [U.S. grains: Corn up on China buying, flood worries - Grainews](https://feedsoft.ai/events/9642-u-s-grains-corn-up-on-china-buying-flood-worries-grainews.md) | -1.9% | -4.8% |

## Sources

- agriculture.com: https://www.agriculture.com/as-corn-retreats-brazil-s-leading-grain-state-bets-on-alternatives-8637179

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.