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A Michigan Farm Bureau publication reprinted University of Illinois analysis of Conab data projecting a record Brazilian second corn crop for 2021-22. Expected good yields and more planted area offset drier-than-normal April and May.
Brazil's new access to the Chinese corn market was also noted.
A record Brazilian safrinha crop and export access to China increase global corn supply, which pressures corn prices.
michiganfarmnews.comColussi, J., G. Schnitkey, C. Zulauf, Dept. of Ag. Econ.Jun 20, 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.
