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AgRural said Brazilian farmers had harvested 61.8% of the center-south second corn crop, up about 9 points from the prior week. Harvesting so far in 2021/22 totaled about 50 million tonnes.
The consultancy expects the second crop to reach 87.3 million tonnes, up from 60.7 million tonnes the previous season.
A projected 87.3 Mt second crop, well above last season, adds sizeable export supply and pressures corn prices. Brazil's harvest pace also affects how quickly that corn reaches the market.
brecorder.comReutersJul 25, 2022After 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.
