Loading…
Brazil's safrinha corn was 63.4% harvested as of late July, against 44.3% a year earlier and a 57% average. Mato Grosso was 94% harvested, and the rapid pace is straining storage so corn is being kept in open-air piles.
Goias' soybean estimate was cut 25% to 8.3 million tonnes.
Faster corn harvesting adds near-term export supply, but storage strain could slow movement. The cut in Goias soybean output tightens soy supply and supports soybean complex prices.
ukragroconsult.comJul 27, 2022After 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.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% 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.
