The September corn contract traded on Brazilian Stock Exchange (B3) The Brazilian corn futures contract closed this Tuesday (4) with a slight decrease of 0.11%, quoted at R$ 68.65/sack; the November contract fell 0.40%, to R$ 73.25/sack. In this trading session, domestic prices were pressured by the drop of more than 1% in the cereal on the Chicago Stock Exchange; however, greater losses were limited by the moderate advance of the exchange rate, a factor that increases the competitiveness of Brazilian grain destined for export. The market continues to monitor the increase in domestic supply, as the winter corn harvest gains strength in the Center-South of Brazil. According to a survey by DATAGRO GrainsThe work is practically finished in Mato Grosso and close to halfway through in Paraná and Goiás. On the radar, the completion of the harvest in Argentina and the development of the new crop in the United States. On Thursday (6), the Secretariat of Foreign Trade (Secex) will release export data for the month of July.
This text was translated by machine from Brazilian Portuguese.