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Support for the rise in WTI oil on Nymex.
At 7:59 am (Brasília time) this Wednesday (11), the March and May corn contracts on the Chicago Stock Exchange (CBOT) showed a slight increase of 3.25 points and 0.50%, traded at US$ cents 658.25/ bushel and US$ cents 657.75/bushel, respectively.
The day before (10), the cereal spot advanced 0.34%, supported by the continuation of the war in Ukraine, which is heading into its 11th month. Russian forces are trying to take the Ukrainian city of Soledar, an important mining point, which would give the Kremlin a greater advantage.
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This morning, prices followed the rise of 0.32% of WTI oil on the New York Mercantile Exchange (Nymex), at US$ 75.36/barrel – a factor that favors the competitiveness of corn-based ethanol.
On Thursday (12), the United States Department of Agriculture (USDA) will report the monthly supply and demand report, the quarterly inventory bulletin, in addition to export sales records.
New information about the behavior of the global financial market, the climate in South America and the Corn Belt, the coronavirus pandemic in China and demand for North American products remain on the radar.
Source: datagro
