In Brazil, corn closes at new high on B3

Published 2023년 2월 20일

Tridge summary

The São Paulo Commodities Exchange (B3) has seen corn prices hit a new high due to a production cut announced by the International Grain Council, attributed to adjustments in the United States and Argentina. This has led to a surge in futures prices, with the March/23 contract closing at BRL 88.96, up BRL 0.29 on the day and BRL 0.07 on the week. However, the May/23 contract saw a slight decrease. In Chicago, corn prices also increased, with the March stock closing up 0.26% or $1.75/bushel at $677.75, and the price for July 2023 closing up 0.30% or $2.0 bushel at $666.0.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Corn closed at a new high of 0.32% on the São Paulo Commodities Exchange (B3), according to information released by TF Agroeconomia. “News of world production cut, due to adjustments in the United States and Argentina, by the renowned International Grain Council (IGC), which brings together specialists from 50 countries in London and is the biggest counterpoint to the USDA, gave new impetus to corn prices in the B3, since exporters can return to the load in their acquisitions in Brazil and the industries must adapt to compete for the available balance”, he comments. “As a result, futures prices closed higher on the day and in the weekly comparison: the March/23 contract closed at BRL 88.96, up BRL 0.29 on the day and BRL 0.07 on the week; May/23 closed at R$89.30, up R$0.08 for the day, but down R$0.92 for the week; the July maturity was R$ 87.90, down R$ 0.81 on the day and R$ 0.47 on the week”, adds the consultancy. In Chicago corn closes high with holidays in the United States ...

Source: Agrolink