◂ Event Timeline

Mar 23, 2021WEATHERBrazil

CBOT corn climbs on delayed planting in Brazil - Markets

CBOT corn futures rose on Tuesday as delayed planting of Brazil's second-crop corn offset beneficial rains in Argentina. Persistent rains in Brazil also delayed the soybean harvest, while South African maize output is expected to rise 6%.

WHY IT MATTERS

Late Brazilian second-crop planting raises concern about supplies later in the year, supporting corn prices. Expected U.S. planting increases limit gains in new-crop futures.

AFFECTSCorn▲

SOURCE
brecorder.comReutersMar 23, 2021

Price reaction & history

Corn▲bullishSO FAR1d +0.2%5d -0.5%20d +3.5%

After 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.

Feb 16, 2021US MIDDAY: Wheat climbs - Markets - Business Recorder+1.5%
Mar 22, 2021Brazil's second corn planting at 86pc of estimated area, below historical average - Markets - Business Recorder+10.7%
Mar 12, 2021Brazil govt concerned about rains disrupting second corn crop - Markets - Business Recorder-9.6%
Apr 22, 2026Chicago soy rises as oil prices climb, rain forecast threatens Midwest planting - Markets - Business Recorder+1.6%
May 3, 2024Soybeans, corn head for weekly gains as floods hit Brazil - Markets - Business Recorder-0.7%

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.

Linked price moves

Corn+10.7%5 periods to Mar 26, 20213.3σ
Delayed Brazil second-crop corn planting raised supply concerns and pushed CBOT corn higher.

Corn CORN · GP ▸

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