Future prices of corn on the Brazilian Stock Exchange (B3) started the week with few fluctuations this Monday, December 9th. At around 12:21 pm, Brasília time, prices varied between R$ 72.24 and R$ 73.94. In addition, the contract maturing in January 2025 registered a value of R$ 73.94, showing a slight drop of 0.01%. On the other hand, the contract maturing in March 2025 was traded at R$ 72.92, with an increase of 0.10%. Finally, the May 2025 contract was quoted at R$ 72.24, marking an increase of 0.26%.
External market
Meanwhile, in the foreign market, corn futures prices on the Chicago Board of Trade (CBOT) also showed predominantly positive movements. At 12:20 pm, Brasília time, investors traded the December 2024 contract at US$ 4.32, which represented an appreciation of 2.00 points. The March 2025 contract reached US$ 4.39, with a slight drop of 0.25 points. The May 2025 maturity reached US$ 4.45, up 0.50%, while the July 2025 contract registered a value of US$ 4.48, up 0.75 points.
According to the international website Farm Futures, the corn market has shown a strengthened technical stance, especially after a recovery at the end of last week. The March contract closed above the 20-day simple moving average, an important indicator for investors.
Corn market investors are focusing their expectations on the Supply and Demand report from the United States Department of Agriculture (USDA), which will be released on Tuesday. According to Bruce Blythe, an analyst at Farm Futures, the report could have a positive impact on prices. Projections point to a reduction in U.S. corn ending stocks in the 2024/2025 cycle. Stocks are expected to fall from 1.938 billion bushels to 1.906 billion bushels. Reuters obtained these estimates by conducting a survey of industry analysts.
With prices stable and attention focused on USDA data, the corn market remains in an assessment mode, awaiting signs that could drive new movements in the short term.
Source: Guilherme Dorigatti | Notícias Agrícolas
