Chicago sees a drop in corn prices

The analysis by the International Center for Economic Analysis and Agricultural Market Studies (Ceema), referring to the period from November 14 to 20 and released this Thursday (20), points out that corn prices in Chicago retreated after the release of the USDA's supply and demand report. The institution highlights that the cereal "attempted a rise in the previous week," but returned to the levels of the beginning of the month. The closing on this Thursday was at US$ 4.26 per bushel, down from US$ 4.41 in the previous week. The report published on November 14 projects a production of 425.5 million tons of corn in the United States. The estimate was above the market's expected average, which pointed to around 420 million tons, and below the 427.1 million predicted in the September report. Regarding the final stocks, the USDA indicated 54.7 million tons, while the market was expecting 56 million. In September, the volume released had been ...