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SAFRAS & Mercado expects Brazil's second-crop corn to set a record, with the Center-South summer crop revised up to 24.8 million tons on higher yields. Rio Grande do Sul was hit by La Nina, but its output was above market expectations and the state is resuming corn exports.
A record Brazilian crop with recovering exports adds to global corn supply and puts downward pressure on corn prices during the export season.
ukragroconsult.comJun 2, 2023After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
