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Corn: Export market favors internal reaction

The corn market continues to present surprises for industry players.

Corn: Export market favors internal reaction

Until a few weeks ago, the data indicating internal surplus, due to the record production of second crop, caused expectation of significant pressure on corn prices in Brazil. This scenario has meant that buyers might delay the renewal of stocks, waiting for lower prices every week. The harvest, however, has not raised the domestic availability, while export records continue to grow due to forward contracts and attractive prices. The international prices have sought new record highs, driven by the dry climate in the United States, which has increased the export parity and attracted Brazilian agents for new foreign business

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