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Brazil's safrinha corn planting is lagging, with 17% planted nationally versus 30% a year earlier, as wet weather delayed soybean planting. Parana, which produces about 15% of the crop, is the most behind, and Mato Grosso, about 46% of output, is tracking the slow 2018 pace, a year when yields fell more than 20%.
Late planting raises the risk of a 2018-style yield shortfall, which would tighten Brazilian corn exports and support corn prices.
ukragroconsult.comFeb 20, 2023After 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.
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.
