Brazilian corn export have only occasional purchases to complete shipments

Maize (Corn)

Brazil

Published Feb 28, 2023

Tridge summary

Current businesses in the Brazilian export market have only occasional purchases to complete shipments, according to information disclosed by TF Agroeconomia. “Premiums remained at $103 cents/bushel for July 23; retreated to $100 for August23 and retreated to $110 for September,” he comments.

Original content

“Again, without the support of the Chicago/dollar pair, which, once again, canceled itself out and with some Trading companies ending the previous season's purchases and turning only to soybeans, at this moment, or to the Corn crop, which begins in August close, the market continued to retract. The rare deals for export were made by the same Trading Company, which has been buying for a few days, mostly to cover incoming ships, but nothing to fund new business positions. Some ethanol and corn milling industries are buying the 2023 harvest, signaling that they believe in an increase in the second half”, he comments. Argentina has corn FOB US at US$289, Argentine corn at US$308 and Brazilian corn at US$299. stopped. Starting to feel serious concerns about the health and size of corn and soybean crops in the country”, he indicates. “As is known, the weather has not been at all favorable in recent days and future prospects are no better. We see temperatures in the range of 33 to 36 ...

Source: Agrolink