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Corn and Soybean Advisor's Michael Cordonnier does not expect Brazil's second-crop corn output to rise this year. He says farmers may plant fewer corn acres due to lower prices and El Niño weather risks.
Early Mato Grosso soybean yields are very poor, and he expects USDA and Conab to lower Brazil forecasts.
Lower expected Brazilian corn and soybean output tightens export supply and supports prices, especially if official forecasts are cut as expected.
brownfieldagnews.comCarah HartJan 4, 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.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), 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.
