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A Reuters poll of 10 forecasters projects Brazil's second-crop corn at 66.22 million tons in 2018/19, up 22% year on year, on favorable weather and a 4.8% larger planted area. Conab expects record corn exports of 31 million tons this year.
A much larger Brazilian corn crop and record exports add competition for US corn in export markets from mid-2019, which is bearish for corn prices.
datamarnews.comMar 28, 2019After 357 past bearish weather events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -2.2% to +1.3%), and -0.5% 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.
