Brazilian corn: on a Wednesday with few negotiations, buyers wait for a drop in prices
Maize (Corn)
Brazil
Market & Price Trends
Published Mar 28, 2024
Tridge summary
The Brazilian corn market is currently experiencing slow negotiations due to buyers' expectations of a price drop, attributed to what they perceive as high current rates. Despite some improvements in supply, it has not been enough to stimulate domestic business activities. Market participants are keenly awaiting the USDA's United States Planting Intention report, expected to be released on Thursday, which could significantly impact market dynamics. Meanwhile, activity on the Chicago Commodity Exchange remains low, and the dollar's value against the real is stable. Corn prices in various Brazilian regions have not seen significant changes, with future market movements likely to be influenced by factors such as weather conditions, exchange rate fluctuations, and logistics. The anticipation around the USDA's upcoming report on planting intentions and quarterly stocks is high, with the market particularly interested in the projected acreage for sowing.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
The Brazilian corn market is expected to have a Wednesday (27) of few negotiations. Buyers still believe that prices are high, expecting a drop in prices in the short term. Although supply fixing has shown progress, it is not enough to consolidate business in the country. The focus of the week is the United States Planting Intention report, which will be released this Thursday (28) by the United States Department of Agriculture (USDA). On the international scene, the Chicago Commodity Exchange is operating at a low. The dollar, in turn, is stable against the real. The Brazilian corn market was slow this Tuesday (26), with stable prices. Consumers and producers were cautious in negotiations. Over the next few days, the market should pay attention to the evolution of the weather, exchange rate movements and logistics issues. Wxmaps predicts good rain for much of the Center-South of the country in the first week of April. At the Port of Santos, the price was between R$57.00/65.00 per ...
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