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An early look at Brazil's 2021/22 crops projects corn output of 116 to 118 million tonnes, up sharply from an estimated 84 million in 2020/21. Central Brazil is hot and dry, with below-normal rain forecast for August to October.
A large recovery in corn output would ease tight export supplies, but the dry start to the season leaves the crop exposed, so the price effect is mixed.
global-agriculture.comGlobaladminAug 27, 2021After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% 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.
