News

Brazil: Corn follows B3 and retreats in the states

Maize (Corn)
Brazil
Published May 31, 2023

Original content

In the maize market in the state of Rio Grande do Sul, prices are once again down by R$1/sack throughout the interior, following B3, according to information released by TF Agroeconomia. “The local corn market continues at the same pace, with buyers (industries) well positioned and extended until the end of June (mostly), therefore, without being pressured to buy, and starting to evaluate second-crop corn offers from the Midwest," he says. “In the stock exchange market, B3 below R$ 56.00 – therefore – reproducing prices from August/2020. On the CBOT, the market lost US$ 6.0 per bushel, hitting December/21 marks. Today the indications were: R$ 59.00 CIF Santa Rosa; R$ 59.00 Três Passos and Frederico Westphalen; R$ 59.00 Marau; R$ 60.00 Arroio do Meio”, he adds. Santa Catarina follows with low prices. “Corn prices in the state continued to fall from R$4/sack to R$57/55, both in Chapecó and Joaçaba, pressured by competitive corn offers in the Brazilian Midwest. Counter prices ...
Source: Agrolink
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