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AgRural reports Brazil's second corn crop was planted later than normal because the soybean harvest was delayed. Rainfall has been scarce since early April and forecasts show little rain for most producing regions.
AgRural forecast second-crop output at 63.6 million tonnes in early April.
Late planting combined with a early dry season raises the risk of yield losses in Brazil's safrinha crop, supporting corn prices and Brazilian export demand for alternatives.
agrural.com.brAgRural Commodities AgrícolasApr 24, 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.
Not enough comparable past events yet for a historical read.
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.
