Brazil: Corn closes in new fall on B3

On the São Paulo Commodity Exchange, corn closed in a new fall, without support for exports, according to information released by TF Agroeconomia. “With the rise in the dollar (+0.16) practically canceled out by the 1.11% 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 note that the purchasers of goods in Paraná on Monday, who normally sought maize in the Midwest, were the buyers of goods in Paraná", he comments. “In view of this situation, futures prices closed again on the day and in the weekly comparison: the March/23 contract closed at BRL 87.24, down BRL 0.69 on the day and BRL 1.72 on the week ; May/23 closed at R$87.61, down R$0.79 on the day and R$1.69 on the week; the July maturity was R$ 86.94, down R$ 0.50 on the day and R$ 0.96 on the week”, he adds. In Chicago, March prices closed down 1.11% or $7.25/bushel at $642.75. “The quote ...