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A grain marketing consultant says continued dryness in Brazil is supportive for corn prices. Safrinha corn planting has reached about six percent, a record-fast pace, though some farmers are waiting for more consistent rains.
The planting window runs until the end of February.
Dry conditions threatening Brazil's second-crop corn would tighten export supplies and support corn prices for feed buyers.
kornradio.comnedvedmediaJan 22, 2019
brownfieldagnews.comMark DorenkampJan 22, 2019After 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.
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.
