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- Ox: prices continue to skyrocket in the physical market and into the future
- Corn: USDA Report Raises Price to Chicago High
- Soybeans: Bushel Rises Sharply In Chicago With USDA; stock market in Brazil has mixed movement
- Coffee: the Brazilian market remains stable despite a sharp fall in the dollar
- Overseas: Exchanges continue to test new highs, despite Covid-19 breakthrough
- In Brazil: the dollar falls more than 3% and returns to the level of R $ 5.30
Schedule:
- Brazil: updated projections for the 2020/21 Brazilian cereal harvest (Conab)
- Brazil: systematic survey of agricultural production for December (IBGE)
- USA: December consumer price index
Ox: prices continue to skyrocket in the physical market and into the future
The fat ox sign continues to skyrocket at the beginning of the year, with a still very restricted supply picture and shortened scales. According to Safras & Mercado, the arroba in São Paulo increased R $ 7 in the daily ticket and went from R $ 280 to R $ 287.
In the futures market, contracts traded on B3 also had another day of steady rise. The January maturity went from R $ 285.60 to R $ 289.45 per arroba and for February it went from R $ 285.35 to R $ 290.20.
Corn: USDA Report Raises Price to Chicago High
The World Supply and Demand Report of the United States Department of Agriculture (USDA) it pushed the price of corn on the Chicago Stock Exchange higher. As a result, prices were at the highest level since May 2014. Maturity for March was up 5.08%, to US $ 5,172 per bushel. The document brought cuts above market expectations for global and US stocks in 2020/21.
In Brazil, the corn indicator of the Cepea, calculated based on prices in Campinas (SP), broke its nominal record and stood at R $ 83.32 per bag. Thus, in the year, prices have already risen by 5.9%.
Soy: Bushel Rises Sharply In Chicago With USDA; stock market in Brazil has mixed movement
As in the case of corn, the USDA report generated a strong reaction to soybean prices that are traded on the Chicago Stock Exchange. The March contract easily topped $ 14 a bushel and was up 3.33% at $ 14,182 a bushel. The document returned figures lower than previous data for both the North American crop and ending stocks.
In the Brazilian market, Chicago’s rally competed with the sharp decline in the dollar against the real. As a result, prices were mixed, that is, they rose in some places but fell in others. In Passo Fundo (RS), the stock market fell from R $ 167 to R $ 165, however, in the port of Paranaguá (PR), the price jumped from R $ 169 to R $ 171.
Coffee: the Brazilian market remains stable despite a sharp fall in the dollar
According to the consulting firm Safras & Mercado, the Brazilian physical coffee market had stable prices on Tuesday 12, according to the company’s analysis, even with the sharp fall of the dollar in relation to the real, prices remained in the absence of a seller and maintaining securities offered by buyers.
Safras points out that the seller has been rationing the offers trying to bet on the highest ones ahead, while the buyers act in the market according to their needs. In the south of Minas Gerais, the good arabica coffee drink with 15% of harvest ended the day at R $ 620 per bag.
Overseas: Exchanges continue to test new highs, despite Covid-19 breakthrough
European stock exchanges and North American futures continue to test new highs, despite the advance of Covid-19 in both regions. In Europe, Germany and the Netherlands have announced that they will extend the measures to restrict the movement of people beyond the period initially communicated.
In the United States, the government is trying to speed up the vaccination process by releasing previously reserved doses and recommending that states vaccinate people 65 and older. On the political front, Vice President Mike Pence rejected the Democrats’ request to invoke the 25th Amendment and remove Trump from power.
In Brazil: the dollar falls more than 3% and returns to the level of R $ 5.30
After the strong rise in the dollar between the end of last year and the beginning of 2021, which brought the price from around R $ 5 to more than R $ 5.50, the US currency fell significantly again. The day was marked by the interruption of the recovery of the dollar at a global level and this favored the Brazilian currency, as well as that of other emerging countries.
Thus, the price went from R $ 5.5036 to R $ 5.3226, a decrease of 3.29% in the course of the day. It was the biggest daily drop since June 2020. Rising commodity prices in global markets helped the real’s performance.
