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With premiums unchanged and prices falling, final prices fall slightly in Argentina.
With the fall of Chicago canceling out the rise in the dollar, the Brazilian corn export market is stuck, according to information released by TF Agroeconomic. “Premiums for July23 rose to $ 97 cents/bushel for July23 and $ 97 for August23 and fell to $105 for September”, he comments.
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“The lack of support from the main components of corn export price formation (the dollar rose 0.16% today, but Chicago fell 0.59%, nullifying the gains of the American currency) did not allow buyers' price indications to even reach the prices net paid by buyers in the interior of the country, which is why farm selling has suffered today. Despite there being indications and interest from buyers, we did not hear of any deals this Thursday”, he adds.
With premiums unchanged and prices falling, final prices fall slightly in Argentina. “The approximate prices of Argentine wheat, calculated based on premiums and CBOT, for the Brazilian buyer fell to US$ 308 for February, to US$ 302 for March, fell to US$ 297 for April/May and to US$ 252 for July, according to a report of prizes received from Buenos Aires brokers. Flat corn prices fell to US$ 308 FOB in the USA, remained at US$ 313 FOB Up River (official), in Argentina and fell to USD$ 312 FOB Santos, in Brazil”, he indicates.
In Paraguay, purchasing options are narrow. “Buyers in the FAS market are ending their programs, and trading options are narrowing, as well as settlement levels taking a small hit. The Brazilian market, in turn, maintains stable prices, where buyers do not seem to be in a big hurry to cover possible drops in the southern region. Some local industry participants are making purchases as their consumption progresses, while others already have their programs covered”, he concludes.
Source: Leonardo Gottems | agrolink
