With expensive North American corn, the trend of the international market is to turn to Brazil, according to information released by TF Agroeconômica. "October kept $50/bushel, November, returned to $75 and December kept $90/bushel. The flat FOB price of Brazilian corn closed rose to US$ 302/t on Friday, against US$ 355/t for American corn and US$ 313/t of Argentine corn", he comments.

"As U.S. corn is $54/t more expensive than Brazil's, international demand is expected to turn to Brazil going forward, improving production flow and domestic prices," he adds.

In relation to Argentine corn, premiums and equivalent prices fell again on Friday. "FOB Up River prices for Handysize ships have risen to the equivalent of $303 Nov. For the new crop, March was quoted at $300, May retreated to $299 and June was not quoted again and July to $290. Panamax market retreated to US$ 303 November and quoted US$ 277 July/23", indicates.

"The planting of corn from the 2022/23 harvest in Argentina reached 16.4% of the planned area of 7.5 million hectares last week, the Buenos Aires Cereal Exchange said on Thursday. The area expected for this season represents a reduction of 200,000 hectares compared to the previous cycle. Compared to the same date last year, planting is 7.7 percentage points behind us," he says.

In Paraguay, about 75% of the crop is already commercialized, while Brazil remains absent. "Recovery in midday prices caused the values in the FAS to recover losses, which was reflected in the report of some closed deals, although most sellers bet on even better values in the coming days. There have also been specific reports of batches with quality outside the export standard", he concludes.

Source: Agrolink