Brazil: Corn follows wheat to drop in Chicago on Monday, even with AMS weather support

Maize (Corn)

Brazil

Published Dec 6, 2022

Tridge summary

Monday (05) comes to an end with corn futures prices practically stable, but remaining slightly negative on the Brazilian Stock Exchange (B3). The main quotations fluctuated in the range between R$ 87.25 and R$ 90.41. The January/23 contract was quoted at R$87.25 with a drop of 0.07%, the March/23 contract was worth R$90.41 with a loss of 0.02%, the May/23 contract was traded at R$90, 00 with a decrease of 0.10% and July/23 had a value of R$ 87.39 with a devaluation of 0.13%.

Original content

For the market analyst at Brandalizze Consulting, Vlamir Brandalizze, the Brazilian Stock Exchange had a slight negative correction following the movements in Chicago, but supported by the dollar, which is the benchmark for exports. "The market is trying to hold the level of R$ 90.00", he says. In the Brazilian physical market, the price of a bag of corn also had a negative Monday. The survey carried out by the Notícias Agrícolas team found appreciation only in Dourados/MS. Devaluations appeared in Jataí/GO, Rio Verde/GO, Brasília/DF, São Gabriel do Oeste/MS, Amambai/MS and Porto Paranaguá/PR. Check out how all the quotes turned out this Monday According to the daily analysis by Agrifatto Consultoria, “in the physical corn market, the cereal closed on Friday being sold at around R$ 86.00/sc, balanced between exports and the domestic market”. Also this Monday, Cepea released its weekly note pointing out that corn prices weakened over the past week in ports and also in many markets ...

Source: NoticiasAgricolas