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Late-season rains of 1-3 inches fell across south-central Brazil in early June 2023, ending a dry May. Imea raised its Mato Grosso safrinha corn yield estimate to 110.05 sacks per hectare, up 4.2% from its prior estimate, and Parana's crop was rated 85% good.
Improved safrinha yields point to larger Brazilian corn supplies for export and domestic feed use, which tends to weigh on corn and corn-based feed ingredient prices.
ukragroconsult.comJun 14, 2023After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), 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.
