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Brazil's safrinha corn crop is expected to fall about 15% due to drought, with Mato Grosso output estimated at 25-26.8 Mt. France's corn crop is set for its smallest since 1993 as farmers shift to barley and wheat, and Saudi Arabia bought 1.5 Mt of barley.
Brazilian drought and a small French corn crop raise import needs and support corn prices, while the shift to barley and wheat in France adds to feed grain import demand.
grains.orgMay 17, 2018grains.orgMay 17, 2018grains.orgMay 17, 2018Not enough comparable past events yet for a historical read.
After 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.
After 55 past neutral weather events, Soybean Meal moved a median -0.1% over 5 sessions (47% higher; middle half -1.7% to +1.5%), and +0.1% 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.
