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Brazil's government estimates 88.61 million tonnes of corn will be harvested this cycle. The second corn crop, planted after soybeans, accounts for about 71 percent of national production.
A forecaster says late April rain will bring relief to farmers.
Relief rain for the safrinha crop supports the expected large Brazilian corn harvest, which eases export competition and pressures corn prices lower.
reuters.comApr 16, 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.
