While growers are trying to advance the summer planting amid irregular rainfall, the domestic market offers symptoms of strong price support. There is no shortage of corn. However, farmers, seeing the situation of planting, continue to sell available corn on a regular basis, which contributes to support prices. Exports now have commitments of 35.7 million tons, leaving December and January to close this business year’s data.
Domestic sales have had quite firm prices. Another week of highs shows that domestic consumers once again ignored the references of high shipments and delayed planting in the summer crop. The potential delay in entering the summer season extends this tight supply picture until at least March, which will depend on the resumption of sales of more significant volumes in the coming few weeks.