The July corn contract traded on Brazilian Stock Exchange (B3) The contract closed this Tuesday (26) with a moderate decrease of 0.65%, quoted at R$ 66.15/sack. The September contract fell 0.79%, to R$ 68.95/sack. In this trading session, domestic prices were pressured by the fall in equivalent corn contracts in Chicago Board of Trade (CBOT), in the United States.
The start of the second grain harvest also put pressure on prices.State agencies such as Mato Grosso Institute of Agricultural Economics (Imea) and the Department of Rural Economy (Deral) They reported that work had already begun last week in Mato Grosso and in ParanáA DATAGRO Grains It reduced its projection for the second crop harvest from 114.2 to 112.3 million tons, which represents a 5% drop compared to the previous season. Regarding… international demanda Secretariat of Foreign Trade (Secex) It was announced yesterday (May 25) that Brazil shipped 67,000 tons of corn in the week ending May 22. This volume is higher than the 34,400 tons shipped the previous week. However, greater losses were limited by the appreciation of exchange, a factor that increases the competitiveness of Brazilian corn destined for export.
This text was translated by machine from Brazilian Portuguese.