At 10:20 am (Brasilia time) this Wednesday (3), the January corn contract traded on Brazilian Stock Exchange (B3) The March futures contract showed a moderate drop of 0.86%, quoted at R$ 75.35/sack; the March contract retreated 0.55%, to R$ 76.53/sack. For the week, the contracts accumulated partial gains of 2.92% and 2.11%, respectively. Yesterday (2), futures closed with a significant increase of 2.40%, quoted at R$ 76.00/sack; the March contract advanced 1.41%, to R$ 76.95/sack. This morning, domestic prices were pressured by profit-taking in the market. In addition, the equivalent contracts for the cereal in Chicago Board of Trade (CBOT) They are also reporting losses this morning. Another factor contributing to the decline is the slight pullback in… exchangeThis reduces the competitiveness of Brazilian corn exports. While limiting further losses, the delay in soybean planting in Brazil is likely to put pressure on the planting window for winter corn next year – the second crop represents about 70% of the national cereal production. Summer corn planting is also behind schedule compared to last season and the average of recent years.
This text was translated by machine from Brazilian Portuguese.