Tuesday (04) begins with corn futures prices operating in a slightly negative field on the Brazilian Stock Exchange (B3). The main prices fluctuated in the range between R$ 57.04 and R$ 68.10 at around 10:21 am (Brasília time).
Operators quoted July/24 maturity at R$ 57.04, devaluing it by 0.59%. September/24 was worth R$ 60.21, with a drop of 0.48%. November/24 was traded at R$ 64.14, with a low of 0.54%. Finally, January/24 was quoted at R$ 68.10, with a loss of 0.25%.
Corn Foreign Market
International corn futures prices also opened this Tuesday's activities, registering slightly negative movements on the Chicago Stock Exchange (CBOT) at around 9:44 am (Brasília time). Furthermore, negotiators quoted July/24 at US$ 4.42, showing a drop of 1.25 points. Furthermore, September/24 was worth US$ 4.48, with a drop of 1.25 points. In turn, they traded December/24 for US$ 4.61, with a devaluation of 1.50 points, and March/24 was valued at US$ 4.74, with a loss of 1.00 points.
According to information from the international website Farm Futures, corn prices fell this morning after yesterday's Crop Progress report indicated that US corn conditions were much better than the market expected, given the soggy planting conditions this spring.
The publication highlights that, during the week ending June 2, the USDA (United States Department of Agriculture) found that 75% of the country's corn crop was in good to excellent condition, despite the torrential rains that ravaged the Corn Belt. Corn all spring. However, pre-report trade estimates ranged between good to excellent 58% and 79%, with a median estimate of 70% expected ahead of yesterday's report.
Source: Guilherme Dorigatti | Notícias Agrícolas
