The price of corn on the Chicago Grain Exchange recorded a drop of 5.25 cents in May/17 contracts on Thursday (09.03), closing at US$ 3.67 per bushel. The other highlighted commodity positions on the CBOT closed the session with devaluations between 5.00 and 5.50 points.
The North American corn market had a day of losses in the main futures prices, with pressure coming from the upward revision of the Brazilian harvest, announced by the USDA (United States Department of Agriculture). What contained an even greater devaluation was the projected increase in the allocation of corn for ethanol production.
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