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Cepea, July 2, 2024 – The second crop harvesting is moving at a faster pace this year, boosting the supply in many regions, such as Paraná and Mato Grosso. Therefore, some producers are more flexible to close new deals, but purchasers are limiting trades, preferring to receive corn that had been contracted before.
Due to this scenario and to the high global supply in the current season (because of higher output in the United States and in Argentina), corn quotations were moving down in most areas surveyed by Cepea. Not even the dollar valuation against Real (+6.3% in June) was enough to avoid decreases in the spot market. From May 31 to June 28, the ESALQ/BM&FBovespa Index (Campinas, SP) downed 3.61%, closing at BRL 57.22 per 60-kilo bag on June 28.
SHIPMENTS – Exports have totaled only 636.9 thousand tons up to third week of June, accounting for 61.5% of the volume shipped in June/23 (data from Secex) and below that forecast by Anec for this month, of 1.06 million tons.
CROPS – According to data from Conab, the harvesting of first and second crops hit 91.6% and 28% of the total, respectively, up to June 23, advancing 3.5 and 14.9 percentage points compared to the season before. As for the second crop, there are only three states left to finish harvesting: Maranhão, Piauí, Bahia and Rio Grande do Sul.
(Cepea-Brazil)
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Fonte: Cepea