Brazil: Second crop of corn in Matopiba and Goiás partly offsets losses in Mato Grosso do Sul and Paraná

Maize (Corn)
Market & Price Trends
Published Apr 19, 2024

Tridge summary

The article outlines a week of heightened tension in global markets, primarily driven by increased inflation in the United States, which has led to dampened expectations for an interest rate cut extending possibly into 2024. Contributing to the market's unease are the escalating conflict in the Middle East and a USDA report that offered few surprises. The impact of a strong dollar on Brazilian interest rates and the anticipation surrounding Brazil's fiscal balance report are also discussed. Furthermore, the article touches on the USDA's slight adjustment in US stocks, the planting outlook in the Midwest, and Safras & Mercado's projections for Brazil's corn crop, which is expected to satisfy both domestic and export demands. The intensification of Middle Eastern conflict emerges as a critical factor influencing oil and commodity markets globally.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

A tense week in global markets. Higher inflation in the United States, eliminating the expectation of an interest rate cut, perhaps even in 2024, intensification of the conflict in the Middle East, and a USDA report basically without surprises for the market. The change in the movement of the dollar in the international environment should greatly restrict the interest rate cut in Brazil, and next week the Brazilian government should release the fiscal balance for the first quarter. The exchange rate was the highlight of the week once again. The USDA report did not bring any news to the market, despite the slight cut in US stocks. Now the focus is on the Midwest planting with excellent climate conditions and, at first, without being a support variable for prices. Last week closed with sharp highs in global assets given the risk of an intensification of the conflict in the Middle East. Finally, the update of the corn numbers by Safras & Mercado, which cut the second crop in Paraná ...
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