Corn rebounds after two weeks of heavy losses.

THE corn Prices in the international futures market rose again on Monday, after two weeks of significant declines. According to TF Agroeconômica, the recovery on the Chicago Board of Trade (CBOT) was technical in nature and was favored by adjustments in the positions of investment funds.

The December contract advanced 0.68%, equivalent to 3.25 cents per bushel, closing the trading session at US$ 4.83 per bushel. The March position registered an increase of 0.61%, or 3 cents per bushel, reaching US$ 4.9725.

The reaction occurred after the grain accumulated losses exceeding 9% in the previous two weeks. The pressure on prices was related to information from the United States Department of Agriculture (USDA), which indicated high stocks and productivity, increasing the perception of abundant supply in the market.

Part of Monday's increase was attributed to fund covering, at a time when US farmers are focusing their efforts on the soybean harvest. This preference has temporarily reduced the pace of corn availability. Private projections indicate that the US corn harvest should reach approximately 36% of the area.

In Europe, corn futures also rose on the Euronext exchange. Support came from expectations that the European Union will record its smallest harvest in 27 years, projected by the USDA at 48 million tons.

Investors' stance, however, shows caution. According to the most recent report from the U.S. Commodity Futures Trading Commission (CFTC), funds reduced their net long position by 60,491 contracts in the week ending October 6, ending the period with a long balance of 317,359 contracts.