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AgRural cut its forecast for Brazil's center-south second corn crop by 5 million tonnes from May, to 60 million tonnes, and 17 million below its initial projection. It expects yields of 77.5 bags per hectare, the lowest since 2016, because of a severe drought.
A sharp cut to Brazil's second corn crop tightens export supplies for the year and supports corn prices, and it raises feed costs for buyers who depend on Brazilian corn.
agweb.comJun 24, 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.
