The corn business week left very slight declines for Chicago corn prices, where March and May contracts were down 0.40 and 0.11%, moving from 267.90 to 266.82 and from 267.01 to $266.72 per ton, according to TF Agroeconomia. “Overall, corn went through a week with few shocks and with factors that were not able to consolidate a trend”, he comments. Among the downward factors are the greater agility in planting in Brazil, inflation and oil. “At the beginning of the week, Conab carried out a survey of the progress of planting the Safrinha, which contributes to just over 76% of the total supply of the Brazilian cereal – more than 20% of the predicted area, compared to 10.7% last week and 35.1% at the same time in 2022”, he adds. “On Tuesday, the inflation index for January in the United States was released and the data, of 0.5%, which placed the year-on-year mark at 6.4%, was above expectations by operators and was far from the target. from the Federal Reserve, which is unlikely to ...
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