Corn futures prices experienced a notable increase on the Chicago Board of Trade (CBOT) and the Brazilian Stock Exchange (B3) following the release of new USDA data. The data revealed a decrease in the projected area for corn crops in the United States to 36.42 million hectares, which is lower than both the previous month's estimate and last year's harvest, and below market expectations of 37.14 million hectares. Additionally, corn stock estimates were reported at 212.1 million tons, falling short of the market's expectation of 214.06 million tons. These factors contributed to the appreciation in corn futures prices across various maturities.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
International corn future prices began to operate in the positive field of the Chicago Stock Exchange (CBOT) after the release of new numbers from the USDA (United States Department of Agriculture) this Thursday (28). At around 1:46 pm (Brasília time), the May/24 maturity was quoted at US$ 4.46 with an appreciation of 19.75 points, the July/24 was worth US$ 4.59 with a gain of 19.75 points, the September/24 was traded for US$4.67, an increase of 18.50 points and December/24 had a value of US$ an increase of 17.75 points. The area projected by the USDA for corn crops in the United States was 36.42 million hectares, smaller than what was reported last month, when it estimated 36.83 million hectares and 5% smaller than the previous harvest. The average market projections were also higher and came in at 37.14 million. Furthermore, stocks were estimated at 212.1 million tons, against market expectations, which were an average of 214.06 million tons. Corn futures prices on the Brazilian ...
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