◂ Event Timeline

Jul 1, 2021WEATHERBrazil

Brazilian coffee, sugarcane and corn hit by third day of frost

Frosts hit Brazilian coffee, sugarcane and corn areas over several days. A producer source expects the second corn crop to fall below 60 million tonnes, roughly 6 million tonnes lower than previously expected.

WHY IT MATTERS

A downgraded Brazilian second corn crop reduces export availability and supports global corn prices.

AFFECTSCorn▲

SOURCE
reuters.comRoberto SamoraJul 1, 2021

Price reaction & history

Corn▲bullishSO FAR1d -0.0%5d -2.9%20d -12.5%

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.

Jun 9, 2022Another Round of Frost and Freezes for Southern Brazil-1.6%
Jul 22, 2021Historic crop loss expected as new frosts hit Brazilian corn areas - Fastmarkets-2.8%
Jan 27, 2022Corn and soybean farmers in Brazil hit by huge losses amid droughts - Fastmarkets+1.7%
May 13, 2021Drought impacting most Brazilian corn farms-7.7%
May 13, 2021Brazil's thirsty corn crop and dry forecast a boon for U.S. exporters - DatamarNews-7.7%

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.

Corn CORN · GP ▸

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