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Brazil's safrinha corn harvest reached roughly half completion nationally, with Mato Grosso about 80% harvested and Parana lagging at about a fifth complete. Dry weather has supported harvest progress, while cooler, wetter conditions were forecast for southern states.
Steady harvest progress adds corn export supply from Brazil, which is mildly bearish for corn prices. Rain in southern Brazil that slows harvest in Parana could delay supply and partly offset that pressure.
morningagclips.comBrittanyAug 2, 2018After 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.
