US tax on Mexico could benefit Brazilian corn exports

The United States' decision to back down on taxes on Mexico boosted corn prices on the Chicago Stock Exchange, resulting in increases throughout the week. However, the scenario of uncertainty persists. Despite the increase in prices, there was a reduction in supply by sellers, who are focused on field activities, such as harvesting the summer crop and sowing the second crop. As for planting in Brazil, little progress was made last week: second-crop corn sowing progressed by about 4% of the area compared to the last days of January, according to the National Supply Company (Conab). Mato Grosso stands out with a pace 80% lower than last year. As for prices, in Chicago, corn closed last week quoted at US$ 4.87 per bushel, up 0.83%. In Brazil, on B3, the cereal contract for March 2025 registered a significant increase of 3.44%, closing at R$ ...