RIO DE JANEIRO, BRAZIL - Yield risks arise whenever Brazil’s heavily exported second corn crop is planted late, but this year the delays are the worst in a decade, and the pressure for favorable weather through the next several months is substantially higher than usual.
Historically dry conditions in Brazil last year led to a slow soybean planting pace. Late soybean sowing alone does not always mean the corn crop will be planted just as late, but rains have hampered the bean harvest, worsening the delays for the second corn sowing that immediately follows.
However, Brazil’s official statistics body . . .