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Forecasts called for rain in southern Brazil from Sept. 14-20, improving soil moisture for first corn planting.
First corn area reached 16% of the forecast in Center-South Brazil as of Sept. 9, versus 20% a year earlier, with rainfall better than last year.
Improved moisture supports the first corn crop, and a good harvest could ease the supply and price pressure on feed manufacturers, which is mildly bearish for corn.
ukragroconsult.comSep 16, 2021After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% 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.
