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Cepea, June 4, 2024 –The harvest of the first and second corn crops continue to progress in Brazil. However, players are uncertain about the second crop production in some regions. The weather in May did not bring relief for crops conditions, especially in the South, Southeast and in parts of the Central-West.
Prices, in turn, rose in May. From April 30 to May 31, the ESALQ/BM&FBovespa Index (Campinas, SP) upped 2.47%, closing at BRL 59.36 per 60-kilo bag on May 31.
However, values presented distinct behaviors among regions surveyed by Cepea all over Brazil at the end of the month. In Goiás and Mato Grosso, where the weather has been more favorable for crops, the higher supply has pressed quotations down. On the other hand, in Paraná, Mato Grosso and Rio Grande do Sul, unfavorable weather conditions concerned players and boosted values, as the supply of high-quality cereal has decreased.
Data from Secex indicate that Brazilian corn shipments totaled 277.72 thousand tons in 17 producing days of May, against 384.88 thousand tons observed in May 2023 (22 working days).
Conab says that, up to May 26, the harvest of the second crop reached 1.1% of the total; in the same period of 2023, activities were at 0.4%. As for the summer crop, the harvest hit 78.4% of the area until May 26.
(Cepea-Brazil)
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Fonte: Cepea