Corn futures climbed to about $4.30 per bushel, touching June highs, on firm US export inspections and thin global stocks. Dryness in central Brazil and parts of Argentina threatens safrinha plantings.
The article also describes earlier declines tied to easing Middle East tensions and lower crude prices.
Tight global corn stocks and South American dryness support prices, though falling crude oil reduces the ethanol demand floor.
After 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.
After 13 past neutral weather events, Crude Oil (WTI) moved a median +2.3% over 5 sessions (62% higher; middle half -0.9% to +4.7%), and +6.1% 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.