The sharp reduction in the price of corn in recent weeks may have reached its limit, assesses analyst Luiz Fernando Pacheco, from T&F Consultoria Agroeconomic: “Even with the market at a standstill, the cereal had its third day of increase. Both sides are still looking for the best price opportunity, which has prevented the closing of new contracts.”
“Industries and Farms claim to have a considerable stock and a good flow of taxed corn, producers keep the grain in silos waiting for good negotiations, the hope is in a new export peak, given the favorable exchange rate”, explains the specialist.
However, the entire evolution of the safrinha corn harvest, as well as the evolution of planting in the Center-West and South of the country, give the prospect of good availability of the cereal for the second half of the year, even if the excess rain still generates attention in some areas. areas. For Cepea, corn rose 1.12% in B3 and 1.44% in Campinas.
FUTURES
Corn maintained price recovery for the third day in a row also on B3. Thus, the May price closed at a high of 0.58%, July closed at a high of 0.30%, September with an estimate of 0.30%, November closed at a high of 0.40%, January20 at 0.11%, July20 at 0.30% and September20 at 0.301 TP3T.
“Exports from the Central-West outside the standard for the period maintained the positive outlook for the coming days. However, the market should still pay attention to prices for the second half of this year. Given the consolidation of a good harvest for off-season corn in Brazil and Paraguay”, concludes Pacheco.
Source: Agrolink | Author: Leonardo Gottems
