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Conab's March monitoring bulletin reported that heavy rain in March favored second-crop corn development in Brazil's Center-North and part of the Northeast but delayed corn sowing and soybean harvest and logistics. Low rain damaged first-crop crops in Central-South Bahia and Northern Minas Gerais, and Rio Grande do Sul remained water-restricted.
Vegetation indices indicated favorable conditions for second-crop corn nationally.
Favorable second-crop corn conditions support a larger Brazilian corn supply, while harvest delays can slow soybean marketing and add logistics friction. The net effect on prices is modest.
revistacultivar.comApr 4, 2023After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% 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.
