At 9:16 am (Brasilia time) this Tuesday (23), the July corn contract traded on Brazilian Stock Exchange (B3) It showed stability with an upward bias (+0.08%), quoted at R$ 63.70/sack; the September contract advanced 0.39%, to R$ 66.91/sack. Yesterday (22), futures recorded losses: the July contract retreated 0.41%, to R$ 63.65/sack, and the September contract depreciated 0.22%, to R$ 66.65/sack. This morning, domestic prices were supported by the appreciation of exchange, a factor that increases the competitiveness of Brazilian corn destined for export. Furthermore, the advancement of equivalent contracts in Chicago Board of Trade (CBOT)In the United States, this also contributed to the positive bias. Data released yesterday by Secretariat of Foreign Trade (Secex) and analyzed by DATAGRO Grains Data shows that Brazil shipped 76,700 tons of corn in the week ending June 19, compared to 139,100 tons in the previous week. Brazilian corn shipments are expected to gain momentum from the second half of this year, as the winter crop begins to enter the market. Harvesting has already begun in… South-Central Brazil, with Mato Grosso and Paraná leading the efforts. At the national level, the DATAGRO Grains It projects a production of 112.3 million tons, the second largest volume in history, behind only the record harvest of 118.0 million tons harvested in the previous cycle.
This text was translated by machine from Brazilian Portuguese.