The falls in the dollar, the Chicago Stock Exchange and B3 had a negative impact on the foreign market corn Brazilian. TF Agroeconomic released this information. This ended up discouraging new sales. “Premiums remained at 1TP4Q83 for October shipments. In November, they fell sharply by $25 cents/bushel to $55. However, they rose $2 cents/bushel to $90 in December”, he comments.
The export market is very slow currently. The sellers decided to leave. This was due to declines of 1.01% in the dollar, 0.66% on the Chicago Stock Exchange and 0.39% on B3. As for the 2023/24 harvest in Brazil, the planting of summer corn in the Center-South of the country reached 41% of the area predicted until last Thursday (12), while, compared to 37% in the previous week and 46% in comparison with the same period last year. In the South, where planting is already well advanced, however, high humidity and leafhoppers remain the producer's focus. In the Central-South States with a later calendar, however, the priority given to soy limits the initial progress of corn sowing, as is traditional at this time of year.
Export and domestic market in Paraguay: Prices and the direction of business
The pace of business in Paraguay is dictated by exports, and the good potential to be negotiated has not yet been fully explored. The average price for the week was around 170.00 U$D/MT in FAS Assunção, but reached higher levels, approaching 175.00 U$D/MT on Thursday. In the same way that we did not observe large deals, the seller seeks levels of 175.00 – 180.00 U$D/MT in the ports of Asunción and in the interior at least 160.00 U$ D/MT.
We conclude that exports via rivers continue to dictate the direction of business and prices, with an interesting percentage being negotiated in the market. This is because the domestic market (Alcoholeras and polleros) is somewhat backward, in many cases with programs already made for the year.
Source: Leonardo Gottems | agrolink
