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Por: Eduardo Vanin
Artigo, Grãos
Publicado em: 18/10/2023 08:52
Brz Markets - Recap: Brz Real close the day below 5,04 vs USD (it was 5,18 two weeks ago). Farmer selling of corn and soybean is being sluggish in the last days. Corn farmer selling lost the momentum, not only cause of the lower flat price in BRL, but also cause of the lack of logistics and uprising of the replacement cost. Players continue to cut/holding their export programs out of northern ports due to rivers situation. The excess of rains in Santos and Paranagua is being another source of inefficiency for corn, meal and soybean programs. The corn replacement cost went from 70´s to 85/90cz in one week, making tradings more caution on Fob. Corn buyers turned their eyes to UKR, which is much cheaper than Brz. Korean tender made this clear – 50 cents per bushel lower CRF than Brz for Dec shipment. Rumors about tradings in China are proposing WO on Brz corn, cause of the lower local corn prices and UKR offers much cheaper (Panamax). Soybean crush margin in Brz improved nicely. Crushers are bidding above export parity.
Soybean Paper MKT – Oct 17th
Feb -60sh vs -80sh
Mar -100sh vs -110sh
April -100sk vs -130sk
May -85sk vs -110sk
JJ ?? vs -90sn
July ?? vs -85sn
Trades reports: Trades at -105sh for March.
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