Corn: Overview of the week in the country - 16/12/2022

The Brazilian corn week started with positive results on the stock market (B3). After a drop on Tuesday, directly influenced by the falling dollar, which reduced market impulses. The week ends with prices on a positive trend. Exchange rate movements and CBOT results act on export-oriented price parity, defining the market at this moment. The price impact moves the ports in December, with the expectation that 8,18 million tons of corn will be shipped by the last day of the year.

In the international market, the European Union predicts positive scenarios for cereal production next year, a scenario opposite to that faced in 2022. In the United States, the possibility of rising inflation keeps recession on alert according to a report from the Federal Reserve, limiting prices and guiding negotiations.

Brazilian grain

In Minas Gerais businesses reported in Santa Juliana at R$78,00 with a deadline of 30 days. In Mato Grosso do Sul, deals between R$75,50 and R$76,00. In Mato Grosso, traders indicate lower-than-expected prices for shipment in January between R$62,00 and R$65,00. In Rio Grande do Sul, losses are reported in the west of the state that could reach 35% of the expected total, and the climate is still a major concern for producers.

Still in the South, both in Santa Catarina and Rio Grande do Sul, buyers are still looking for grains in other states. As a trend, in some states the market is leaving purchases to build stock for New Year's Eve.

Tarken Quote

Tarken price for this Friday in the physical corn market with a drop compared to last week for cities:

• Luís Eduardo Magalhães -- R$ 70,560

• Ferries -- R$ 71,33

• Rio Verde -- R$ 75,73