Brazilian corn export market remains sluggish

In the Brazilian corn market for export, the movement continues with the slowness seen in other days, since exports do not take off, according to what TF Agroeconomia says. “Premiums held at $60 cents/bushel for July23, dropped back to $115 in Aug23, to $115 in September and held at $115 for October,” he comments. “The market continues to bet on the abundance of current stocks, formed by what is left of the 2022 second crop, plus the harvest of the summer crop of the same year in the three southern states. There is also the lack of support from the dollar+Chicago duo, which does not allow offering better prices to producers than those offered by the domestic market, except in rare exceptions in which the Tradings need to complete some loading of a ship already named and with available space”, he adds. In Paraguay, the market has no news and no business. “We continue to see a sluggish market for grain. Sellers continue to focus on soybeans for what would be the available producer, ...