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Soja (CBOT) : --
Milho (B3) : --
Algodão (NY) : --
Petróleo : --

Morning Wrap up: Brz Congress rejected the PIS/COFINS changes

Por: Eduardo Vanin
Artigo, Grãos
Publicado em: 12/06/2024 07:28

Brazil's Congress rejected the PIS/COFINS changes, removing them from the agenda. The Brazilian Real remained stable, close to the 1-year high, at 5.36. The Finance Ministry mentioned yesterday that he still didn't know where to find the money to cover the unexpected $25 billion expense. Corn and soybean origination were slow compared to Monday's movement. Producers have increased prices and are testing the market. Corn harvest in Paraná has reached 13%, compared to 0% at this time last year and a five-year average of 3.4%. In Mato Grosso, corn harvesting has reached 10.7%, compared to 3.65% at the same time in 2023 and a five-year average of 3.7%. The Amazon Basin rivers are lower than last year, which is a red flag for the corn program up North. China is looking for soybeans in Argentina and the US Gulf. 

Soybean Paper MKT – June 11

*(daily variation)

Jun 24 +58sn (+8) vs +30sn (-7)

Jul 24 +53sn (+3) vs +48sn (+3)

Aug 24 +70sq (+10) vs +60sn (+5)

Sep 24 ?? vs +58su (+3)

Feb 25 -5 (unch) vs -18sh (+2)

Mar 25 -20sh (unch) vs -30sh (+8)

Apr 25 -20sk (unch) vs -35sk (+10)

May 25 ?? vs -30sk (+10)

Trades reported (Cargo): FH Jul at +52sn and 54sn. LH Jul at +60sn and FH Aug at +73sq

Cargo Market indications (Santos/Tuba)

FH Feb 25 ?? vs -10sh (+10)

LH Feb 25 vs -20sh

FH Mar 25 ?? vs -30sh

FH Apr 25 ?? vs -45sk

LH Apr 25 ?? vs -40sk (+5)

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