South America’s bleak growing season outlook is showing signs of improvement, lessening prospects for record-high corn prices in the U.S. The significant drought impacting most of Brazil led to sharply lower production forecasts but the safrinha corn outlook is showing signs of life. Planted later than normal this year to a delayed soybean crop, safrinha corn will pollinate grains in May and the first half of June.
All eyes will be looking at yield results as the U.S. faces a unique opportunity to ramp up corn product amidst what could be a global supply shortage as Ukrainian exports remain slim.
Read more on South America’s corn crop and the impact on U.S. markets here.
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