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S&P Global reports that a dry forecast for early April, from INMET and Maxar, raised concerns over Brazil's second-crop corn. Little rain was expected in southern and Midwest growing areas, and planting had been delayed.
Expected dryness in the main safrinha belt threatens yields and keeps Brazilian corn export prices firm, supporting global corn and feed-ingredient costs.
spglobal.comMugunthan KesavanApr 7, 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.
Not enough comparable past events yet for a historical read.
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.
