Wednesday (30) begins with corn futures prices trading in the positive territory on the Brazilian Stock Exchange (B3). The main prices fluctuated in the range between R$73.64 and R$77.58 at around 9:49 am (Brasília time).

The November/24 maturity was quoted at R$73.64, up 0.53%, the January/25 maturity was worth R$77.58, up 0.79%, and the March/25 maturity was worth R$77.20, up 0.52%.

The Market Analyst at Brandalizze Consulting, Vlamir Brandalizze, points out that the outlook for the Brazilian corn market remains positive and with room to grow even further. “The domestic scenario is positive and there is still room to grow further,” says Brandalizze.

Foreign Market

On the Chicago Board of Trade (CBOT), Wednesday began with movements close to stability for international corn futures prices, which fluctuated little at around 9:41 am (Brasília time).

The December/24 contract was quoted at US$ 4.13 with stability, March/25 was worth US$ 4.27 with a gain of 0.25 points, May/25 was traded at US$ 4.35 with an increase of 0.50 points and July/25 was worth US$ 4.39 with an increase of 0.25 points.

According to information from the international website Successful Farming, corn contracts in Chicago are receiving negative pressure from wheat, which is falling amid favorable weather in several growing areas around the world.

“It rained overnight in parts of the Oklahoma Panhandle and more rain is forecast for the weekend,” according to the National Weather Service, as reported by Successful Farming.

On the other hand, Getreide Investimentos Partner and Investment Advisor Marcelo Gavlik cites the role of strong demand for corn from the United States in supporting prices, since much of the grain supply is currently in the country, which forces international buyers to seek corn there.

Source: Notícias Agrícolas