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Feed & Grain reports that early May is expected to be seasonably dry in Brazil, with subsoil moisture possibly limited. Moisture concerns are rising across the safrinha areas outside Mato Grosso, and China is feeding more wheat to livestock.
Moisture shortfalls in Brazil's safrinha corn can cut exportable corn supply, while China's wheat feeding reduces demand for corn and soymeal, which offsets some of the price support.
feedandgrain.comKevin McNewApr 21, 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.
After 55 past neutral weather events, SBM moved a median -0.1% over 5 sessions (47% higher; middle half -1.7% to +1.5%), and +0.1% over 20.
After 224 past neutral weather events, WHEAT moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
