The September corn contract traded on Brazilian Stock Exchange (B3) The futures contract closed this Wednesday (8) with a slight decline of 0.23%, quoted at R$ 68.04/sack, however, with an accumulated weekly gain of 1.55%. The November contract registered a decrease of 0.15%, to R$ 71.15/sack, but with an appreciation of 0.92% in the week. In this trading session, domestic prices were pressured by the decline of exchangeThis factor reduces the competitiveness of Brazilian corn destined for export, as well as causing a devaluation of more than 1.5% in equivalent contracts for the cereal in the market. Chicago Board of Trade (CBOT)In the domestic market, the increased supply of the grain It also put pressure on prices. According to the DATAGRO Grains, until last Friday (3), the winter crop harvest of South-Central of Brazil Harvesting has reached 26.1% of the projected area, following a weekly increase of 7.5 percentage points. At the same time last season, the harvest was at 29.1%; the average for the last five years is 30.3%.
This text was translated by machine from Brazilian Portuguese.