At 9:28 am (Brasilia time) this Tuesday (19), the July corn contract traded on Brazilian Stock Exchange (B3) It showed a slight decrease of 0.13%, quoted at R$ 66.98/sack; the September contract operated in stability with a downward bias (-0.06%), at R$ 69.82/sack. Yesterday (18), futures recorded gains: the July contract rose 0.40%, to R$ 67.07/sack, and the September contract appreciated 0.33%, to R$ 69.86/sack. This morning, domestic prices were pressured by a profit-taking movement, considering the previous day's increase. Furthermore, the Weakened international demand It also exerted pressure on prices. Secretariat of Foreign Trade (Secex) The report announced yesterday that Brazil exported 34,400 tons of corn in the week ending May 15, a volume lower than the 100,400 tons recorded the previous week. On the other hand, greater losses were limited by the advance in equivalent corn contracts in… Chicago Board of Trade (CBOT), as well as by valuing exchangeThis factor increases the competitiveness of Brazilian corn destined for export. The market remains focused on the fields, especially on the imminent start of the harvest. winter corn node South-CentralThis should increase the domestic availability of the grain in the coming months. Harvesting of the first crop, meanwhile, is practically complete in the main producing states of southern Brazil, with only a few areas remaining to be harvested in… Goiás and Minas Gerais.
This text was translated by machine from Brazilian Portuguese.