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Safras & Mercado estimated Brazil's second corn planting in the Center-South at 86.2% of the area, about 10 points below the historical average. Heavy rains delayed soybean harvesting and disrupted the second corn season in major producing states.
The consultancy expects the crop to cover 14.1 million hectares this season.
Late planting raises the risk of lower yields and domestic corn supply tightness, which supports corn prices and feed costs for Brazilian meatpackers and feed buyers.
brecorder.comReutersMar 22, 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.
