Future prices of corn were operating in the negative field on the Brazilian Stock Exchange (B3) during trading this Thursday (31). The main quotations varied between R$ 73.06 and R$ 76.61 at around 1:28 pm (Brasília time), indicating a bearish day for the sector.
The November 2024 contract was quoted at R$ 73.06, down 0.12%, while the January 2025 contract was quoted at R$ 76.61, down 0.51%. The March 2025 contract was traded at R$ 76.55, down 0.29%.
External market
On the Chicago Board of Trade (CBOT), corn futures prices fluctuated slightly, remaining mixed at around 1:20 p.m. (Brasília time). The December 2024 contract was quoted at US$ 4.11, down 0.25 points, while the March 2025 contract rose to US$ 4.26, up 0.75 points. The May 2025 contract traded at US$ 4.34, up 1.00 points, and the July 2025 contract registered US$ 4.39, up 1.00 points.
According to the international portal Successful Farming, USDA reports indicated that corn export sales met market expectations. The accumulated total for 2024 exceeded the figures recorded in 2023. However, the analysis highlights that the sales volume is positive for corn prices. Still, the potential for upside in future prices remains limited.
The portal highlighted that total sales favor corn prices, but future prices have probably already incorporated this factor after the flurry of daily sales announcements from the USDA last week.
Source: Guilherme Dorigatti | Notícias Agrícolas
