The Brazilian Stock Exchange (B3) operates with mixed results for corn future prices this Tuesday. The main prices registered fluctuations between negative 0.89% and positive 0.06% at around 11:45 am (Brasília time).
The July/20 maturity was quoted at R$ 44.45 with a devaluation of 0.89%, September/20 was worth R$ 43.47 with a loss of 0.75%, November/20 was traded at R$ 46.15 with a decrease of 0.54% and January/21 had a value of R$ 47.30 with an increase of 0.06%.
Brazilian prices continue to reflect the start of harvesting work for the second national harvest and exchange rate movements, which at around 11:51 am (Brasília time) registered a drop of 2.24% for the dollar against the real, being quoted at R$ 5.24.
External market
International corn future prices registered slight gains on the Chicago Stock Exchange (CBOT) this Tuesday. The main prices registered positive movements between 1.00 and 1.50 points at around 11:38 am (Brasília time).
The July/20 maturity was quoted at US$ 3.24 with an increase of 1.00 point, September/20 was worth US$ 3.28 with an increase of 1.00 point, December/20 was traded at US$ 3.37 with appreciation of 1.25 points and March/21 had a value of US$ 3.49 with a gain of 1.75 points.
According to information from the international website Farm Futures, future corn prices rose slightly this morning following the increase in energy prices.
Additionally, USDA released monthly grain crush and coproduct production data yesterday, providing a more comprehensive look at corn use during the height of the COVID-19 pandemic in April. Total corn consumption fell 36% from March 2020 to 299.0 million bushels in April, as reductions in fuel production eliminated 165.3 million bushels of demand from ethanol production.
“But there were some glimmers of hope in yesterday’s report. Industrial alcohol production increased 4.0 million bushels to 11.8 million bushels in corn consumption in April 2020 following an increase in demand for hand sanitizer. Corn consumption for alcohol also increased by 2.3% during lockdown, as consumers turned to alternative forms of entertainment to pass the time in quarantine. The April 2020 total of corn consumption for alcohol was the second highest on record, reaching 4.1 million bushels”, points out the publication.
Source: Notícias Agrícolas
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