It is nearly impossible to predict the corn trend in Brazil

The corn business week left very slight declines for Chicago corn prices, where March and May contracts were down 0.40 and 0.11%, moving from 267.90 to 266.82 and from 267.01 to $266.72 per ton, according to TF Agroeconomia. “Overall, corn went through a week with few shocks and with factors that were not able to consolidate a trend”, he comments. Among the downward factors are the greater agility in planting in Brazil, inflation and oil. “At the beginning of the week, Conab carried out a survey of the progress of planting the Safrinha, which contributes to just over 76% of the total supply of the Brazilian cereal – more than 20% of the predicted area, compared to 10.7% last week and 35.1% at the same time in 2022”, he adds. “On Tuesday, the inflation index for January in the United States was released and the data, of 0.5%, which placed the year-on-year mark at 6.4%, was above expectations by operators and was far from the target. from the Federal Reserve, which is unlikely to ...