In the international market, China made four purchases of corn in the United States, but left Brazil aside, according to information released by TF Agroeconômica.  "Premiums rose to $77 cents/bushel for July23, remained at $115 in August23, $115 in September and rose to $117 for October," he says.

"Today there were no new sales of American corn to China, but there was also nothing new towards Brazil, as would be desirable. There was also no support from the dollar, which fell 0.52 percent, and the Chicago futures market, which fell 0.20 percent. In addition, with so much internal liquidity, many industries were stockpiled until the end of May, others until June, which puts downward pressure on prices, without, however, enthusing sellers for foreign sales, because export premiums in Brazil remain stable to slightly lower," he adds.

In Paraguay the offer begins to get very adjusted, with delayed safrinha. "The corn market in Paraguay lives days of little business, both for the balances of the last harvest and for the next harvest. The poor quality of what's left of 2022 and the late planting of 2023 justify the few deals. With few good quality lots on the market, local buyers are looking to cover their milling until the start of the next campaign," he says.

"In the South, buyers eyeing the Uruguayan market have been inflating prices, reinforcing the idea that the market should continue to improve. For the next harvest, although buyers improve values seeking to stimulate business, the reported closures are very punctual, with most sellers apprehensive about making commitments at this time, "he concludes.

Source: Agrolink