Corn operates with moderate drop on Thursday at B3
Market makes profits with an eye on the possible reduction of domestic demand with anticipation of holidays in Brazil At 12:09 am (Brasília time) this Thursday (25th), the corn quoted on the Brazilian Stock Exchange retreated 0.66 point 0.70% in the May contract, negotiated at R$ 93.75 / bag. July registered a fall of 0.41 points and 0.46%, to R$ 88.89 / bag. Maturities went to the negative side in this session with pressure from the financial sector and technical movements for profit realization after appreciation of more than 1% the day before. The market also fears of a reduction in cereal demand with the extended holidays that were anticipated for the next week in some states in Brazil, in order to reduce the circulation of people amid the recent worsening of the coronavirus pandemic. In addition, the center-south of the country should have its next days marked by dry weather, with light isolated rains, according to the National Meteorological Institute (Inmet). The condition should further favor the 2020/21 summer corn harvest, but hinder the planting of the winter crop. The monitoring of devaluations on the Chicago Stock Exchange (CBOT) also had an impact on B3, with -19.75 points in the soybean spot, -13.25 points in common wheat and -9.25 points in corn.
This text was translated by machine from Brazilian Portuguese.