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“At close, Chicago September futures had lost $ 0.04/bu to $ 5.64/bu, with December falling nearly $ 0.05/bu to $ 5.68/bu, and similar losses reported through July 2022. Weekly export inspection data showed another disappointing set of numbers, with 750,000 tons inspected during the week, as PNW struggles to supply products and maintain expectations”, adds the consultancy.
Although the numbers were within the range of expectations, they were at the lower end of a scale that encompassed 700,000 to 1 million tons. “Add to this the expectations that quality conditions could reach 65%, good or excellent, in tonight's data, and the pressure has fallen again on corn futures”, he indicates.
In B3 the numbers rose, as imports were greater. “Today, Secex figures showed that the country has already imported 1,081 million tons, which represents an increase of 112.6% compared to the same period in 2020. With so many frustrations and finding ourselves faced with an unpayable bill for climate losses , producers will not back down so easily on orders”, he concludes.
By: Leonardo Gottems | agrolink
