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.
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