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Early safrinha corn harvest results in Parana and Goias show yields well below normal, with some areas reporting losses of 40% or more. Drought during development and late-June frosts are the cause, and the hardest-hit farmers may struggle to meet forward contracts.
Brazil is a major corn exporter, so the shortfall cuts exportable supply and supports world corn prices, especially as Brazil's domestic prices are already at record highs.
ukragroconsult.comAug 2, 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.
