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Brazil's Agriculture Minister Tereza Cristina Dias said heavy rains in Mato Grosso and other states were disrupting planting of the second corn crop, which will make up about 80% of output. She said tight corn supplies were already a concern for meatpackers.
She also suggested agricultural commodity prices could rise further.
Government concern over weather-delayed planting and tight supplies signals firmer domestic corn and feed demand, supporting prices for feed buyers.
brecorder.comReutersMar 12, 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.
