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A Reuters poll of nine analysts estimates Brazil's 2019/2020 corn crop at a record 102.3 million tons, up 2.3% from 2018/2019. The projection is nearly unchanged from an early August survey at 101.9 million tons.
Dry weather has slowed the start of soybean planting.
A record Brazilian corn crop expands export supply from the second-largest global exporter, which pressures world corn prices. Slow soybean planting and a delayed safrinha window are watched risks that could tighten supply later.
williams.com.brDjurdjica dos SantosAug 26, 2020After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
