Corn harvest in the US advances, but fiscal impasse halts data and generates global uncertainty

The corn harvest in the United States is advancing and has already reached about 40% of the planted area, but the global market operates amid uncertainty. The fiscal crisis that has paralyzed part of the U.S. government has prevented the release of the USDA's supply and demand report, a fundamental tool for the international balance of the commodity. In Chicago, futures contracts fell slightly, closing on October 9 at $4.18 per bushel. The absence of official information generated volatility and increased the scope for speculation. "Without the USDA's statistics, the market is in the dark, and this affects trading decisions worldwide," notes Argemiro Brum of CEEMA. Despite this, domestic demand in the U.S. remains strong, especially driven by the ethanol industry, which helps to limit more significant price drops. However, with the entry of the record American crop into the market, major competitors such as Brazil and Ukraine are expected to face challenges in maintaining their ...