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CBOT corn futures reached their highest since mid-2017 as traders focused on dry weather stressing Brazil's second-crop corn. INTL FCStone cut its Brazilian second-corn output forecast by 4% to 60.5 million tonnes, and dry conditions were expected to persist in Parana.
Reduced Brazilian safrinha supply supports CBOT corn prices, raising the cost of corn-based feed ingredients.
finance.yahoo.comETF TrendsMay 4, 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.
