Brazil: China has been buying less corn

In the Brazilian corn export market, the large offer reduced premiums and traded volume, while China buys less, according to information released by TF Agroeconomia. “Premiums remained at $10 cents/bushel for July 23; down $8 cents to $12 for August; dropped $8 cents to $8 for September; and remained at $20 for October and $27 cents for November,” he comments. “The National Association of Cereal Exporters (Anec) made a new adjustment in its estimate of Brazilian corn exports. The entity revised its forecast to 1.457 million tons, below the volume of 1.591 million tons expected a week ago. In the week of June 11th to 17th, 74,009 tons of corn left Brazilian ports. For the week of June 18th to 24th, Anec projects shipments of 519,177 tons of corn”, he adds. Meanwhile the rains continue to interfere in Paraguay. “In a situation similar to that of soybeans, the absence of prices meant that we had a very slow day on Monday, with buyers in the FAS market not presenting numbers. Both the ...