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Last Tuesday's frosts (20) in several producing regions in Brazil brought yet another reason to maintain firm prices for corn in the domestic market. Even though in many regions the off-season is already defined, and the production losses due to adverse weather (drought) are confirmed, the frosts only worsen the supply scenario.
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Thus, what we saw during the week was at least price support at the previous week's levels, but there were advances in many regions. And this is in the middle of the safrinha harvest. The problem is that it is a small vintage compared to what was initially imagined. Estimates of the volume to be harvested increasingly fell, causing concern regarding supply in the second half of the year until the start of the summer harvest.
In the balance of the last seven days, between Thursday (July 15th) and this Thursday (July 22nd), corn in Campinas/CIF for sale rose from R$ 103.00 to R$ 104.00 per bag, high of 1.0%. In the Mogiana region of São Paulo, the cereal increased in sales from R$ 101.00 to R$ 102.00 per bag, an increase of 1.0%.
In Cascavel, Paraná, in the weekly comparison, the price rose from R$ 100.00 to R$ 105.00 per bag, an increase of 5.0%. In Rondonópolis, Mato Grosso, the price went from 88.00 per bag to R$ 90.00 (+2.3%). In Erechim, Rio Grande do Sul, the value rose from R$ 100.00 to R$ 102.00 per bag, an increase of 2.0%.
In Uberlândia, Minas Gerais, the price increased from R$ 97.00 to R$ 100.00 per bag in the last seven days, an increase of 3.1%. And in Rio Verde, Goiás, the market went from R$ 88.00 to R$ 93.00.
By: Lessandro Carvalho | Crops and Market
