After accumulating consecutive drops between the first half of March and the first weeks of May, the price of corn has risen again in the Brazilian market, mainly in consumer regions, such as São Paulo and Santa Catarina. The recovery movement, which has been observed despite the prospect of high availability in the current harvest, is linked to the retraction of producers, who have started to offer only small lots on the spot market.
Overall, however, the pace of sales is slow, given that many buyers surveyed by Cepea are purchasing specific volumes, still expecting good domestic availability of the grain in the second half of the year. Between May 10 and 17, the ESALQ/BM&FBovespa Indicator in the Campinas region (SP) rose 5.3%, closing at R$ 34.69/60 kg bag on Friday, the 17th. Price increases at ports also influenced regional values. Many sellers surveyed by Cepea have taken advantage of the opportunity to close deals close to R$ 37.00/60 kg bag for shipment in the second half of the year. In this case, the appreciation of the dollar against the Real and the decline in domestic prices in recent weeks have kept the international competitiveness of Brazilian corn high and, consequently, stimulated new export deals.
Post | Marina Carvejani
Author | CEPEA/ESALQ
Source | agrolink
