Check out the factors that should stir up the corn market...

corn grain hands

Foto: Pixabay

The corn market is experiencing a time of high prices, both domestically and in the international market. The size of the harvest in the United States is expected to draw producers’ attention next week. In Brazil, the focus becomes the progress of planting the summer crop.

Follow below the facts that should deserve the attention of the corn market next week. The tips are from Safras Consultoria analyst Paulo Molinari.

  • The international market continues to follow the final harvest phase in the United States;
  • Corn above $ 4 a bushel remains a very high price for the current inventory mix;
  • China has yet to buy 7 million tonnes from the US this year. The total is 6.67 million tonnes, so there is no China factor in CBOT prices;
  • Wheat supported due to climate risks in Europe, Australia and Argentina has been collaborating to sustain corn prices;
  • Weekly exports from the USA only within the normal range, or already expected, nothing new in the external environment of corn;
  • Prices are high at the moment at CBOT;
  • The domestic market continues to have very firm prices;
  • Mato Grosso has prices above R $ 65 per bag, in addition to the record demonstrating the long path of the local market until July 2021;
  • In the other squares, the main concern is summer planting. With rain returning in several locations, planting resumed in the past week;
  • However, there are already losses of production in the south of Brazil and the dependence is on rains at the end of October to alleviate the situation;
  • The climatic tension is expected to continue until February and then with the 2021 safrinha planted later;
  • Brazil’s exports are within the normal range: up to now 25.8 million tonnes committed, with a target of 34 million in the year;
  • There is no corn import scheduled to arrive in Brazil in the next 90 days at least, from any source;
  • Recalling that North American corn has difficulties in entering Brazil due to transgenics;
  • Fixations in cooperatives and cereal producers remain low, as well as direct sales by producers, a factor that sustains regional prices;
  • When producers return to selling more aggressively, prices can settle.

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