After closing the last trading session with a 5-point drop, international corn prices went the other way and open on Wednesday (20) with gains on the Chicago Stock Exchange (CBOT). The main prices recorded valuations between 2.75 and 3.25 at around 09:11 (Brasília time). March / 19 maturity was priced at $ 3.73, May / 19 was worth $ 3.81 and July / 19 was trading at $ 3.89.
According to Reuters, wheat prices in the last trading session were the lowest since the end of October and this pressured both corn and soybeans. Lack of demand for US wheat is pushing prices. Instead of opting for wheat from the United States, Syria’s General Establishment for cereal processing and trade purchased 200,000 tonnes of wheat from the Black Sea.
According to Farm’s analysis of Farm Futures, corn prices were subject to wheat prices last Tuesday in a round of technical sales. Corn-based bids were mostly stable but mixed on Tuesday, dropping as much as 2 cents on an Iowa processor, but rising as much as 7 cents at an Iowa river terminal.
Other information that has been on the market was a survey conducted by the Reuters Agency, along with 12 analysts, who pointed out that Brazil’s 2018/19 maize crop increased 21% over the previous year, reaching an estimated production of 2.571 billion bushels, in part due to the higher planting and more pleasant weather this season.