September 28, 2022
Corn market to monitor the weather in Ukraine and the United States

Corn market to monitor the weather in Ukraine and the United States

Following are the facts worthy of attention Corn market Next week.

From the notes Fernando Henrique Iglesias, an analyst at Safras Consultoria.

– The Brazilian corn market has been somewhat fluid over the past week. Brazilian producers in recent days have been waiting for details of the North American crop;

– Cargo transportation is currently a persistent problem, with corn still reaching over R$90 a bag in the states of Santa Catarina and Rio Grande do Sul;

– Petrobras diesel price cuts will reduce freight costs in the coming days;

– Due to high international demand for Brazilian corn, the export balance currently continues to be a key indicator of domestic prices;

– At CBOT, weather is still a major variable, with NOAA models still pointing to above-normal temperatures and precipitation;

– The next 12th report will be an important guide, providing perspective around average productivity in the current season;

– USDA’s weekly crop status reports are also relevant in this regard;

– Monitoring the flow of stored Ukrainian grain should also be noted as a volatile factor.