Loading…
Brazil's safrinha corn generally benefited from recent rains, which eased dryness in the south. Conab raised its total 2022/23 Brazil corn estimate by 0.2 million tons to 124.8 million, with first crop up and safrinha down 0.28 million tons to 95.32 million.
Frost forecasts for southern Brazil raised concern, and farmers in some areas planted less corn due to the delayed soybean harvest.
A slightly higher total corn estimate is mildly bearish, but the lower safrinha figure and frost risk offset it. Shifts toward sorghum and other crops reduce the late-season corn supply.
ukragroconsult.comApr 20, 2023After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), 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.
