The factors present in the market today indicate that Brazilian prices for corn may have a week of appreciation in relation to the previous week, prevailing the movement of external demand in Brazil. This is what specialist Ruan Sene, market analyst at Grão Direto, points out.
According to him, there are strong indications that December will be another very expressive month in terms of export sales. This could provoke, continues the Grão Direto analyst, competition with the domestic corn market, which is well supplied at the moment.
“New events related to the conflict between Russia and Ukraine, which directly affect the flow of corn and wheat, will impact the supply of these cereals to the world, and may cause movements in Chicago”, adds Ruan Sene.
Still according to the market analyst at Grão Direto, the week was quite slow in negotiations on the domestic market: “Buyers have satisfactory stocks to spend the month and are trying to push prices down, given the still large stocks resulting from the off-season .
“In the external scenario, the market remains heated, with Chicago closing the week on a high, worth US$6.53 per bushel (+1.40%). The main reasons for the rise in Chicago were the bad weather situation in Argentina and fears about the attack on the port of Odessa, in Ukraine”, points out Ruan Sene.
“Regarding exports, according to the Foreign Trade Secretariat (Secex), Brazil exported 1.5 million tons in just 7 working days in December. This represents a 46% increase in the daily average compared to November 2021. If it continues at this pace, it could exceed 5 million tons during the month”, he concludes.