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Subsoil moisture in central Brazil remained well below normal because rainfall was about half of normal over recent weeks. The safrinha corn crop germinated in mostly good condition, but farmers have only about six weeks of rainy season left.
Rains typically taper from early April.
Insufficient subsoil moisture heading into the fill stage raises the risk of reduced corn yields, which would support Brazilian and world corn prices.
dtnpf.comJohn BaranickMar 13, 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.
