Corn: Internal rise contrasts with external drop

Corn started the week with distinct behavior between the domestic and external markets, amid currency fluctuations and the adjustment of expectations. In Brazil, the B3 contracts registered a positive movement in the shorter positions, still reflecting the advance of the dollar observed on Friday. The appreciation found support in the firm pace of the internal market, which maintained an upward trajectory over the past few days. According to the assessment of TF Agroeconômica, the domestic impulse follows the scenario described by Cepea, which pointed to the approach of the ESALQ/BM&FBovespa Indicator of Campinas to the level of 70 reais per bag, a nominal level last seen in May. The advance was due to the greater interest of buyers and the retraction of sellers, who are focusing on sowing and monitoring the development of crops. Farmers report concern about the heat in some regions and, in others, about the effects of the rains in mid-November, which limits the supply in the spot ...