US: Corn on the São Paulo Commodities Exchange (B3) in Brazil, high dollar supports exports

게시됨 2022년 9월 27일

Tridge 요약

The value of the dollar having fallen on the Chicago Stock Exchange has had a positive effect on corn exports and increased corn prices on the São Paulo Commodities Exchange (B3), as reported by TF Agroeconomia. Despite the decline in corn prices on the Chicago Board of Trade (CBOT), the rise in the dollar has led to higher prices offered by traders and good farm selling volumes. Futures prices on B3 have also increased. However, the price of wheat is decreasing due to favorable weather conditions for crop advancement in the US, bearish sentiment, and the strong dollar and potential recession in major economies. The rise in the dollar and the decline in oil are also making US commodities less attractive to foreign buyers and reducing the relative competitiveness of ethanol.

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원본 콘텐츠

The high of the dollar, the biggest fall on the Chicago Stock Exchange, once again supported corn exports and ended up influencing the prices of the cereal on the São Paulo Commodities Exchange (B3), according to information released by TF Agroeconomia. “The 1.59% decline in the price of corn on the CBOT was offset by the 2.53% rise in the dollar this Monday, allowing for an improvement in the prices offered by Tradings and good volumes of farm selling”, he comments. “With this, futures prices closed higher: the November/22 maturity closed at R$ 89.791, up R$ 0.58 on the day and R$ 0.68 on the week (last 5 trading sessions); January/22 closed at R$93.87, up R$0.60 on the day and R$0.90 on the week and March/23 closed at R$96.50, down by R$0.05 on the day and an increase of R$ 0.57 in the week”, he adds. December prices closed down again sharply by 1.59% or $10.75 cents/bushel at $666.0. The price for March 2023, the start of our summer crop, closed down 1.69% or $11.50/bushel at ...

출처: Agrolink