Image: Pixabay
In the Brazilian corn export market, recent premiums fell due to the Argentine “Milho Dollar”, according to information released by TF Agroeconomic. “Premia remained at $67 for August; $ 60 September; $ retreated $ 1 cent to $ 61 for October; they rose from $ 3 cents to $ 68 cents for November and remained at $ 90 for December”, he comments.
The drop in premiums for the most recent months in Brazil was motivated by the start of the “Dollar Maíz” operation by the Argentine government, an odious interference in the market, according to the Rosario Stock Exchange, because “this type of temporary and short term seriously harm agro-industrial activity, with loss of transparency in the price formation process, distortions and asymmetries throughout the production and marketing chain”. But, it is a fact of the market and we have to live with it. As it is a short-term event, Brazilian premiums for September onwards remain high and may even rise a little more.
{module Form RD}
Paraguay has a reduction of US$ 10/t in Brazilian prices. “Corn had a slightly slower day, with the numbers presented not being very attractive to sellers. The FAS market failed to stimulate business, with values a few dollars lower than the previous day. On the other hand, the Brazilian market reduced its indications by US$ 10/t, but some even improved, especially those with more delayed deliveries, managing to complete specific deals. The local market maintains stable indicators, betting on an abundant harvest and which will be able to buy at better prices later”, he concludes.
Source: Leonardo Gottems | agrolink
{module Read Also}
