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Brazil is expected to export 53 million tonnes of corn in 2022-23, passing the US for the first time, and USDA forecasts Brazil's 2023-24 exports at 55 million tonnes versus 53 million for the US. Brazil's 2022-23 production was 130 million tonnes, with 2023-24 production forecast at 129 million.
Expanding Brazilian supply and export share pressures global corn prices and US export demand, weighing on corn and related grains.
ukragroconsult.comMay 26, 2023After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
Not enough comparable past events yet for a historical read.
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.
