The September corn contract traded on Brazilian Stock Exchange (B3) The market closed this Thursday (30) with a slight decrease of 0.41%, quoted at R$ 69.70/sack, with an accumulated loss of 1.25% in the partial week. The November contract fell 0.31%, to R$ 74.57/sack, with a weekly devaluation of 0.44%. In this trading session, domestic prices followed the devaluation of the cereal traded in Chicago Board of Trade (CBOT), whose most active contracts have already accumulated losses of almost 4% in the partial week. The devaluation of the exchange rate also weighed on the market, which fell almost 1%, to R$ 5.06. The market continues to keep an eye on the winter crop harvest in the Center-South of Brazil. A survey carried out by DATAGRO Grãos until last Friday (24) shows that the work reached 61.5% of the cultivated area, a pace slightly below the average of the last five years for the period (62.6%). Individually among the states, the harvest reached 90% in Mato Grosso, ahead of the multi-year average of 87.5%. In Minas Gerais and São Paulo, they reached 29.0% and 15.0%, respectively, behind the average of recent years. The weather forecast for the Central-South region of Brazil remains on the radar, as does the activity at the ports – considering the typical period when corn begins to take the lead over soybeans in the export agenda.
This text was translated by machine from Brazilian Portuguese.