Feed Grains: Brazilian corn prices soften

By Commodity News Service Canada

WINNIPEG, Nov. 22 (CNS Canada) – CORN futures on the Chicago Board of Trade inched up one to two cents per bushel on Tuesday. Demand for US corn continues to stay reasonable as evidenced by US weekly exports that were slightly stronger than expected. According to the USDA, the corn harvest is about 97 percent harvested.
Drought conditions are reportedly beginning to set in on certain portion of the US plains, which was supportive for prices.
Corn prices in Brazil are on the decline, according to a report from CenarioMT.com. A good harvest and bets by speculators that the American dollar will continue to strengthen against the real was reportedly behind some of the pressure.

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