Brazil’s equivalent of the USDA has again lowered its second crop corn estimate due to a variety of weather issues.

CONAB now projects second crop production at 60.322 million tons, a drop of 9.9% on the month and 19.6% on the year following planting delays, hot, dry weather during the growing season, and a few late frost/freeze events. Brazil’s second crop is the source of most of their exports, so this will likely mean at least some increase in global demand for U.S.

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