Tridge summary
Corn prices in China have risen for the sixth consecutive day in March, with a slight increase also observed in corn starch prices. In contrast, Brazil's corn export business is currently stagnant due to lack of margin. Argentina's corn market is experiencing increased activity due to new positions for the 2023/24 harvest. In Paraguay, sellers are favoring corn over soybeans due to favorable market prices. Although Brazilian demand is currently limited, it is expected to rise following the harvest of soybeans and summer corn.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
In China, the March corn price rose again for the sixth consecutive day According to TF Agroeconomic, the corn market currently has zero export business. “Premiums dropped to $60 for July/24, dropped to $50 in August/24 and $50 in September/24 and remained at $60 for October/24, in the ports of Santos and Tubarão”, he comments. “Trading companies love trading corn, but when they don’t have margin, they leave, as in any business. And, at this moment, corn export business has no margin in Brazil. They yield to the seller, in the interior, something around R$50/bag, when local industries offer R$60.00 or more. So, the current movement is zero, which is also an important number”, he adds. In China, the March corn price rose again for the sixth consecutive day, but only by 2 CNY/t more this Tuesday; corn starch in March also rose by just another 1 CNY/t; the price for a dozen eggs for February fell again by 21 CNY/500 thousand units and pig prices fell sharply for the third consecutive ...
Source: Abramilho
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