Appreciation of the Brazilian currency favors domestic trade in the country. In Argentina, the rains of the last few days helped advance the grain planting.
*By Mahany Martins, Tarken Analyst
After oscillating in the mixed field, the futures price of corn ends the week in the negative field on the Brazilian stock exchange (B3), recording quotations between R$86.43 and R$88.86 this Friday morning (27).
On the international market, we observed the same downward trend on the Chicago Stock Exchange (CBOT) after a slight increase the day before, for corn futures prices. For March/2023, the drop was computed at 3.75 points, quoted at US$ 6.78 and for May/2023, the devaluation lowered the bushel value to US$ 6.76, with a drop of 4.00 points in relation to the Last day.
The Brazilian currency appreciated, favoring internal trade in the country, a factor that should guide grain prices, especially in ports.
In Rio Grande do Sul, buyers are beginning to pressure businesses with lower prices due to the advance of the harvest and difficulties with exports. In São Paulo, deals were reported at R$83 and R$84.00 for FOB freight and at R$89.00 for CIF freight. In Goiás, deals at R$79.00 in Mineiros. In Minas Gerais, excessive rainfall hinders the advance of the soybean harvest and permeates space for corn negotiations. Offers registered at R$80.00 in Triângulo Mineiro and R$76.00 in Unaí. (Harvests and Markets) In Mato Grosso, market focused on the movement of soybeans, with no negotiations for available corn, which presents values between R$60.00 and R$64.00 by state.
Just this week, the Buenos Aires Stock Exchange pointed out in a report that the rains recorded in recent days helped the planting of corn to advance to 94% of the planted areas. Despite the continuation of losses for areas planted early, producers are taking advantage of the last days of the planting window of 7.1 million hectares. Countries like Brazil and the United States are already paying attention to the new perspective on the Argentine crop.
TARKEN QUOTATION
Tarken quotation for this Friday in the physical corn market:
Luís Eduardo Magalhães-BA: R$ 70.52
Balsas-MA: R$ 71.49
Rio Verde-GO: R$ 75.11.
Stay on top of the main quotes and market indicators in Brazil and the world! Visit: https://ofertas.tarken.ag/quotation
About Tarken
Tarken is an integrated financial platform for the agribusiness chain, with an objective view of the producer and the local scenario, using data and artificial intelligence that allows the development of new credit, barter and commodity origination models. | Learn more at: https://tarken.com.br
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