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Drought is threatening Brazil's second-crop corn, with the dry spell persisting and raising the prospect of lower yields and possible crop failure. Planting delays have also been a major factor restricting output after rainy conditions pushed back soybean harvest and corn planting.
A shortfall in Brazil's safrinha corn would tighten export supplies at a time when Brazil is a major corn exporter, supporting corn prices and feed costs for buyers.
reuters.comMay 2, 2018After 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.
