The news you need to know now to get started on Thursday

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  • Ox: contract for November at B3 exceeds R $ 278 per sign

  • Corn: retention of sellers remains firm and futures break R $ 72 per bag

  • Soy: price reaches R $ 165 in Dourados (MS), says Safras

  • Coffee: Arabica reaches highest value in 2 weeks in Brazil

  • Abroad: stimulus agreement remains distant in the US and damages markets

  • In Brazil: Central Bank’s economic activity index is high on the agenda

Agenda:

  • Brazil: August IBC-Br (Central Bank)

  • USA: weekly unemployment claims

  • USA: US soybean crushing in September (NOPA)

Ox: contract for November at B3 exceeds R $ 278 per sign

The beef cattle futures contracts at B3 had the second day of significant increase. Maturities for November and December exceeded R $ 278. The contract adjustment for November went from R $ 272.25 to R $ 278.15, an increase of 2.2% per day. The pressure in the physical market continues to be reflected in the futures with the market projecting an extension of the supply restriction for the coming months.

The Cepea fat ox indicator renewed the historical record and was quoted at R $ 263.35 per arroba. Thus, it accumulates an increase of 2.6% in October and 27.3% in 2020. The calf indicator in Mato Grosso do Sul also registered a new high and was quoted at R $ 2312 per head.

Corn: retention of sellers remains firm and futures break R $ 72 per bag

The retention of the corn supply by the sellers remains firm and boosts prices in the physical market and in the future. At B3, maturities for November 2020 and January 2021 were adjusted above R $ 72 per bag.

The Cepea corn indicator, based on prices in Campinas (SP), renewed the historical maximum and stood at R $ 69.53 per bag. With that, the price accumulates an increase of 43% in 2020.

Soy: price reaches R $ 165 in Dourados (MS), says Safras

The daily survey of soybean prices by the consultancy Safras & Mercado showed the bag going from R $ 162 to R $ 165 in Dourados (MS), a historic record. The quotations remain firm, driven by the lack of the product in Brazil.

In Chicago, the November contract again tested the level of $ 10.60 a bushel, up more than 1% a day. Yesterday, Thursday, 14, the United States Department of Agriculture (USDA) released a large volume of US soybean sales to China.

Coffee: Arabica reaches highest value in 2 weeks in Brazil

The Cepea arabica coffee indicator hitched the fifth high in six days and was quoted at R $ 540.05, the highest value in two weeks. The appreciation scenario occurred despite the fall in futures on the New York Stock Exchange, as it was offset by a further devaluation of the Brazilian currency against the dollar.

The market continues to monitor climatic conditions for the 2021 harvest in Brazil. If expectations of better rains in October and in the final months of the year are confirmed, prices abroad should suffer downward pressure.

Abroad: stimulus agreement remains distant in the US and damages markets

Markets are still underperforming by the lack of agreement between Republicans and Democrats for further fiscal stimulus in the United States. US Treasury Secretary Steven Mnuchin has reiterated that there will be hardly any agreement before the November 3 elections.

The highlight of the economic agenda is the disclosure of weekly unemployment insurance claims in the United States. Investors monitor the data to measure the degree of recovery of the labor market in the country, and consequently, the recovery of the economy.

In Brazil: Central Bank’s economic activity index is high on the agenda

The Central Bank today releases the August IBC-Br, an indicator that compiles several economic activity indices and works as a kind of GDP preview. The market expectation is high for the fourth consecutive month, despite the projection of deceleration in relation to the result of July.

The market will continue to monitor the fiscal scenario in Brazil and should welcome the statements of Paulo Guedes and Rodrigo Maia at an event held yesterday. Both reinforced the reform agenda and highlighted the savings that can be generated through administrative and tax reform.

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