The Brazilian corn market maintained firm prices, from stable to higher this Tuesday, the 29th. According to Safras & Mercado consultant, Paulo Molinari, the market remains difficult to obtain corn, with limited offers and good demand, the which guarantees support for quotations.
In the Port of Santos, the price was R $ 65/67 a bag. In the Port of Paranaguá (PR), the price reached R $ 64.50 / 66 per bag.
In Paraná, the value was R $ 59.50 / 60.50 a bag in Cascavel. In São Paulo, the price was R $ 62.50 / 64 in Mogiana. In Campinas CIF, the bag was traded between R $ 64.50 / 66.
In Rio Grande do Sul, the price was R $ 67/69 per bag in Erechim. In Minas Gerais, the amount paid was between R $ 58/60 a bag in Uberlândia. In Goiás, the price was R $ 55 – R $ 56 per bag in Rio Verde – CIF. In Mato Grosso, the price was R $ 55/57 a bag in Rondonópolis.
The Chicago Commodities Exchange (CBOT) for corn closed the session on Tuesday, 29, with lower prices. The entry of the North American harvest acted as a pressure factor, even if it is at a slower pace than expected.
The United States Department of Agriculture (USDA) released a report on the evolution of the corn crop harvest. As of September 27, the harvested area was 15%. The market expected 17%. In the same period last year, the number was 10%. The average for the last five years is 16%. In the previous week, the percentage was 8 points.
Investors also positioned themselves against the country’s quarterly corn stocks report at September 1, which will be released tomorrow and which should indicate lower volumes compared to those recorded in June.
Corn contracts delivered in December closed at $ 3.64, down 2.00 cents, or 0.54%, compared to the previous close. The March 2021 position closed the session at $ 3.74 a bushel, down 1.50 cents on the dollar, or 0.39%, compared to the previous close.
The commercial dollar ended the session up 0.05%, trading at R $ 5.644 for sale and R $ 5.6400 for purchase. During the day, the US currency fluctuated between a low of R $ 5.6070 and a high of R $ 5.6790.