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Dry weather and uneven rainfall in Brazil's main producing regions, especially Rio Grande do Sul, delayed planting and cut corn yields, with production shortfalls of up to 45% reported in some areas. The government also moved to grant an import tax exemption as domestic corn supply fell short of livestock demand.
A large Brazilian production shortfall combined with import tax relief will pull in foreign corn and support global corn prices, and it tightens feed supplies for Brazil's livestock sector.
farmprogress.comJulio BravoJan 15, 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.
