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The USDA GAIN report expects Brazil's 2018/2019 maize crop to reach a record 95 million tonnes, up 18%, driven by a 5% increase in planted area and favorable weather for the safrinha crop. Output for 2019/2020 is projected at 97.5 million tonnes as area expands further.
The crop will be harvested from August onward.
A record Brazilian safrinha crop adds large export supply just as US and other origins compete, which weighs on world corn and sorghum prices and may draw feed demand away from wheat and barley.
farmersweekly.co.zaElizabeth SchroederApr 29, 2019After 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.
Not enough comparable past events yet for a historical read.
After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% 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.
