Corn closes down on B3, Brazil

Updated Feb 27, 2023
On the São Paulo Commodity Exchange (B3) corn closed in a new fall, without support for exports, according to information released by TF Agroeconomia. “With the rise in the dollar (+1.23) practically annulled by the 1.55% drop in corn prices in Chicago, exports again lacked the strength to offer better prices and, as a result, domestic market buyers tried to stock up on local markets. It is interesting to observe that the purchasers of goods in Paraná, this Friday, were the main buyers, who normally looked for corn in the Midwest", he indicates.
“Given this scenario, futures prices closed down on the day and in the weekly comparison: the March/23 contract closed at BRL 87.73, down BRL 0.39 on the day and BRL 0.53 on the week; May/23 closed at R$88.40, down R$0.46 on the day and R$1.08 on the week; the July maturity was R$ 87.44, a drop of R$ 0.40 in the day and a drop of R$ 0.53 in the week”, he informs. In Chicago, corn closed down, still pressured by the increase in corn area in the Forum of the United States Department of Agriculture (USDA). “March stock closed down -1.50% or $10.25/bushel at $650.00. The price for July 2023, the beginning of our winter season, closed down -1.84% or $12.00 bushel to $638.75,” he comments. “Corn ended today's session and trading week in Chicago with falling prices. The main reason for the downward trend was the Annual Forum of ...
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