At the close at 4:30 pm (Brasília time), this Wednesday (17th), the May contract advanced 3.75 points and 0.68% on the Chicago Stock Exchange (CBOT), traded at US$ cents 558.00 / bushel . July rose 0.75 points and 0.14%, at $ cents 542.50 / bushel. Longer maturities recorded losses. The contracts were motivated by the purchase of 1.224 million tonnes of corn 2020/21 from the United States by China, as reported by the United States Department of Agriculture (USDA). Yesterday (17), the Asian country made a purchase of 1.156mt of cereal from the same harvest. The market also waits for more significant signs of recovery in the Chinese and global economy, despite the new growth in cases and deaths caused by the coronavirus in the world, contrary to expectations with vaccination. The weather in South America and the USA is also on the radar, although the harvest of summer corn from Brazil increased to 57.1% in the last week, compared to the average of the last five years of 45.8%, according to data from DATAGRO Consultancy.
This text was translated by machine from Brazilian Portuguese.