Corn continues to rise on B3 with positive scenario in Brazil after Trump's election

Published Nov 6, 2024

Tridge summary

Corn futures prices on the Brazilian Stock Exchange are experiencing positive trends, with increases in main prices ranging from R$72.32 to R$76.70. The election of Donald Trump in the United States is seen as beneficial for the Brazilian grain market, especially corn, due to potential targeted demand from China in response to a new trade war between the US and China. Strength in international corn futures prices on the Chicago Board of Trade also contributes to this positive outlook. Recent private sales of corn from the US to unknown destinations for the 2024/25 marketing year total 294,000 mt, with 124,000 mt announced on Tuesday following two flash sales of 170,000 mt to Mexico.

Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Corn futures prices continue to trade in positive territory on the Brazilian Stock Exchange (B3). The main prices fluctuated in the range between R$72.32 and R$76.70 at around 1:00 p.m. (Brasília time). The November/24 contract was quoted at R$72.32, up 0.24%, the January/25 contract was worth R$75.41, up 0.08%, and the March/25 contract was traded at R$76.70, up 0.20%. Roberto Carlos Rafael, from Germinar Corretora, believes that the election of Donald Trump in the United States is a positive factor for the Brazilian grain market. “In summary, I believe that it will be beneficial for the price of corn in Brazil due to a more targeted demand from China. Since China has been a major buyer of corn from Brazil since 2022, with a new trade war between the United States and China, the Chinese may focus their purchases on Brazil”, points out Rafael. On the Chicago Board of Trade (CBOT), international corn futures prices gained strength and began to operate in the positive field ...

Source: NoticiasAgricolas