International markets have reacted to the damage caused by adverse weather to Brazil's soybean crop in February. But the country's second-crop corn has also suffered.
Excessively wet conditions in Mato Grosso and dryness in Parana have combined to make it a difficult start to the season.
Planting is significantly delayed in Mato Grosso, which accounts for nearly 45% of the second crop, and farmers are now sowing seeds outside the recommended window.
As of last Friday, 66% of the forecast Mato Grosso corn crop had been planted compared with 88% last year, according ...