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Cepea, May 16, 2024 – Corn prices are firm in this early May in the Brazilian market, at the level of BRL 58.00 per 60-kilo bag. Purchasers who are operating in the spot market try to buy new batches at lower prices, based on the possible supply increase, due to the second crop harvest in Mato Grosso and in Goiás (which may start this month), and to the consequent need of sellers to open room in warehouses.
However, many producers are away from trades and those who are active are firm regarding prices. They are concerned about weather impacts on crops in important producing areas. In Rio Grande do Sul, the excess of rains has been damaging crops, while in the Central-West and in the Southeast players are worried about high temperatures and the dry weather.
From April 30 to May 15, the ESALQ/BM&FBovespa Index (Campinas, SP) rose 1.78%, closing at BRL 58.96 per 60-kilo bag on May 15.
CROPS – As for the 2023/24 summer crop, Conab indicated that the harvest had reached 63.1% of the area in Brazil up to May 5, moving up 3.3 percentage points compared to April 28.
In Rio Grande do Sul, Emater indicates that activities reached 86% of the area. In Lajeado and Caxias do Sul, floods have caused significant losses. In Pelotas, despite the rains, corn crops are developing well.
Concerning the second crop, the development is satisfactory in Goiás and Mato Grosso. In São Paulo, Paraná, Minas Gerais and Mato Grosso do Sul, the warm and dry weather concerns players.
EXPORTS – In April, shipments totaled only 66.14 thousand tons, 86% below the volume verified in April/23 – data from Secex. Prices at the Paranaguá port (PR) increased 1.6% between May 2 and 9.
(Cepea-Brazil)
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Fonte: Cepea