Ac Resource Brazil Consulting points out that soybean and corn prices are worsening in Brazil on the Chicago Stock Exchange (CPOD) and should begin to strengthen the prevailing premiums in the US Midwest b market fire market. “Pre-opening calls indicate 4 to 6 cents for soy and 2 to 4 cents for corn,” market analysts say.
“Climate maps indicate dry weather, whether in the US plains or in the Safrinha belt in Brazil. The effects are different. Prolonged drought reduces the productivity of seasonal maize in the United States and Brazil, while the lack of rain accelerates the planting of soybean and maize crops.” Says Brazil.
This Tuesday, April 27, the USDA (United States Department of Agriculture) releases an update on US crop conditions and numbers. “The data will again affect quotes. In Brazil, agricultural conditions in Paran பர last week deteriorated, and this week they are likely to worsen,” the experts point out.
Although soybean and corn prices hit historic highs last week, Agrosource Brazil believes there is still room for new gains in the opening week: However, soybean prices rose 12% last week, while maize gained nearly 7% and 1.5%.
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