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Frost during the week before May 24, 2022 caused limited damage to Brazil's second-crop corn, with Conab reporting no significant harm in the extreme west of Parana. Dry weather persisted across Mato Grosso, Goias, Minas Gerais, northern Mato Grosso do Sul and Sao Paulo, with little rain forecast for May 23-30.
About 56% of the second-crop corn was in grain fill.
Dryness during grain fill cuts kernel number and weight, so continued moisture stress in Brazil's safrinha belt supports corn and feed prices and tightens export supply.
spglobal.comMugunthan KesavanMay 24, 2022After 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.
Not enough comparable past events yet for a historical read.
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.
