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Economist Erin Borror of USMEF says China is expected to turn to Brazil for corn because the war has cut Ukrainian production by about 41% and blocked Ukrainian port exports. Global corn output is expected to fall about 2% and Brazil is projected to offset part or all of the drop in Ukrainian exports.
Ukrainian export losses tighten global corn supply, but expected Brazilian growth limits the price impact and shifts demand toward Brazilian product. Sorghum may also gain Chinese demand.
feedandgrain.comRoy GraberJun 30, 2022After 323 past bullish geopolitics events, Corn moved a median +0.5% over 5 sessions (57% higher; middle half -1.5% to +2.9%), 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.
