- Cattle: falls remain punctual, says Safras & Mercado
- Corn: pulls away more and more from the R$ 100 in Campinas (SP)
- Soybeans: falling dollar leads to falls in Paranaguá (PR)
- Coffee: prices remain stable in Brazil; strong rise in New York offsets exchange rate
- Abroad: optimism is renewed before inflation and Jackson Hole
- In Brazil: Stock market recovers and once again surpasses 120 thousand points
- Brazil: weekly exchange flow (Central Bank)
- Brazil: IPCA-15 August (IBGE)
- US: weekly oil inventories (DoE)
Cattle: falls remain punctual, says Safras & Mercado
According to consulting firm Safras & Mercado, the arroba do boi gordo had another day of occasional falls in the Brazilian market due to the extended slaughter scales. The setbacks were observed in Dourados (MS), where the arroba went from R$ 316 to R$ 315 and in Cuiabá (MT), from R$ 307/308 to R$ 306.
At B3, live cattle futures contracts continue capturing the declines observed in the physical market and had another day of sharp drop in prices. The maturity for August went from BRL 313.05 to BRL 311.45, from October it was from BRL 313.00 to BRL 310.00 and from November it went from BRL 318.60 to BRL 317.90 per at sign.
Corn: pulls away more and more from the R$ 100 in Campinas (SP)
The Cepea corn indicator, calculated based on prices in Campinas (SP), continues to move further and further away from R$ 100 per bag. The price varied -0.63% compared to the previous day and went from R$ 98.21 to R$ 97.59 per bag. Therefore, in the year, the indicator had a high of 24.08%. In 12 months, prices reached 62.84% appreciation.
At B3, the behavior of corn futures contracts is similar to that of the physical market and the curve showed new retreats. The maturity adjustment for September went from R$95.73 to R$95.27, from November it went from R$96.46 to R$96.28 and from March 2022 it went from R$98.19 to R$ 97.85 per bag.
Soybeans: falling dollar leads to falls in Paranaguá (PR)
Despite the sharp rise in Chicago, the Cepea soybean indicator, calculated based on prices in the port of Paranaguá (PR), had a day of lower prices due to the fall of the dollar against the real. The price varied -0.41% compared to the previous day and went from R$172.57 to R$171.86 per bag. Thus, in the year, the indicator had an increase of 11.67%.
On the Chicago Stock Exchange, soybean futures contracts had a strong high day following the good movement observed in other commodities in the main world exchanges. As a result, the price returned to above US$13 per bushel. The November maturity appreciated 3.02% daily and went from $12.926 to $13.316 a bushel.
Coffee: prices remain stable in Brazil; strong rise in New York offsets exchange rate
According to Safras & Mercado, coffee prices on the Brazilian market were stable, with the sharp rise in New York offsetting the drop in the dollar. In the south of Minas Gerais, the good drink Arabica with 15% cleaning was at R$1,050/1,060, while in the cerrado of Minas Gerais, the hard drink with 15% cleaning was stable at R$1,060/1,070 per bag.
On the New York Stock Exchange, the day was very positive for Arabica coffee quotations. The market followed other commodities in the international scenario, such as oil, and had a strong increase, moving away from the level of US$ 1.80 per pound. The maturity for December rose 2.14% in the daily comparison and went from US$ 1.8185 to US$ 1.8575 per pound.
Abroad: optimism is renewed before inflation and Jackson Hole
Global exchanges had another positive day, renewing optimism after the full approval of two doses of Pfizer’s vaccine by the US National Health Surveillance Agency, FDA. Though to a lesser degree, rallies were spread across major stock indices in the US and Europe.
With the Jackson Hole symposium approaching, in which investors await the speech of central bank presidents around the world, and inflation data in the US, the market should avoid large variations. Should speeches or inflation negatively surprise expectations, volatility is likely to increase towards the end of the week.
In Brazil: Stock market recovers and once again surpasses 120 thousand points
The Brazilian stock exchange had a day of recovery following the rise of iron ore in the international market and once again surpassed 120 thousand points. The Ibovespa had a daily appreciation of 2.33% and closed the day quoted at 120,210 points. Meanwhile, the commercial dollar had a drop of 2.23% and went from R$5.382 to R$5.262.
On today’s economic agenda, the highlight is the release of the IPCA-15 in August by the Brazilian Institute of Geography and Statistics (IBGE). Investors will be paying attention to whether energy and food prices continued to accelerate, and above all, whether items classified as services will also experience an increase in inflation between July and August.