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Brazil's weather office has formally confirmed La Niña, which is expected to bring dry weather between December and February, the period when the first corn crop develops. The report also notes that high fertilizer prices may amplify yield losses, and that Chicago corn traded near 5.4 USD/bu this season.
Dry weather during Brazil's first corn crop development raises the risk of yield losses and tighter export supply, supporting corn prices. Reduced fertilizer use due to high costs could worsen the yield impact.
czapp.comAlberto CarmonaNov 30, 2021After 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.
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.
