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At 8:28 am (Brasília time) this Friday (25), the May corn contract on the Chicago Board of Trade (CBOT) retreated 1.75 points and 0.23%, quoted at US$ 746.50/bushel, and was heading towards appreciation weekly of 0.67%. The one in July was down 1.75 points and 0.24%, trading at US$ 726.75/bushel, down 1.93% in the week to date.
In the previous session (24th), the cereal spot fell by 1.05%. Pressure due to the favorable climate in South America and the lack of news about international demand.
This morning, prices accompanied the drop of 2.04% for WTI oil on the New York Commodity Exchange (Nymex), traded at US$ 110.05/barrel – a factor that reduces the competitiveness of corn-based ethanol.
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The casualty was limited by the lack of prospects for a ceasefire in the war between Russia and Ukraine. In Europe, US President Joe Biden announced that the country will supply gas to the European bloc, whose energy sector is highly dependent on Russian exports.
Information about the behavior of the global financial market, the war in Eastern Europe and international demand are still on the market's radar.
Source: DATA
