Corn futures rise on unfavorable Brazilian weather
On Tuesday, Apr. 26, most-active Jul-21 corn futures settled at $6.5450, down 3 cents from Monday’s contract-high and 41 cents below the nearby May-21 contract settle of $6.9550.
Dryness in Brazil has been the main driver behind rising corn futures. Some in the industry project 2020/21 Brazilian corn production falling closer to 100.0 MMT vs. USDA’s April forecast of 109.0 MMT.
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