Wednesday (29) begins with slight drops in corn futures prices on the Brazilian Stock Exchange (B3). The main prices operated with negative movements between 0.09% and 0.24% at around 9:21 am (Brasília time).
May/20 was quoted at R$ 47.44 with stability, July/20 was worth R$ 45.25 with a loss of 0.24%, September/20 was traded at R$ 43.80 with a devaluation of 0.09% and November/ 20 had a value of R$ 45.85 with stability.
External market
The Chicago Stock Exchange (CBOT) opened Wednesday (29) close to stability for international corn future prices. The main prices registered slight upward movements between 0.25 and 0.50 points at around 9:02 am (Brasília time).
May/20 was quoted at US$ 3.03 with an increase of 0.25 points, July/20 was worth US$ 3.12 with a gain of 0.25 points, September/20 was traded at US$ 3.19 with appreciation of 0.50 points and December/20 had a value of US$ 3.30 with an increase of 0.50 points.
According to information from the international website Successful Farming, grains were little changed in overnight trading as investors weigh a potential increase in demand as meatpacking facilities were ordered by President Donald Trump to remain open against concerns. ongoing on purchases abroad.
“The president's order will likely mean increased demand from beef, pork and poultry processors and an increase in pet food purchases. Several facilities have been closed in recent weeks as employees fell ill with COVID-19,” points out analyst Tony Dreibus.
The publication also highlights that, on the other hand, demand for corn in the United States from buyers abroad remains undefined, as the disease continues to spread. Demand for corn from ethanol plants has fallen as people stay home and drive less. Production of the biofuel also fell to a record level in the week to April 17 due to reduced gasoline use in the US.
Source: Agricultural News
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