Brazil: Corn exports focused on the off-season

Published 2024년 1월 24일

Tridge summary

Corn exports are primarily focused during the winter harvest, with steady premiums observed for July through October 2024. Despite a slight decrease in the dollar and an increase in Chicago's corn prices, there has been no improvement in prices within the country's interior. In China, March corn prices have risen, while corn starch prices have dropped. Meanwhile, Argentina's corn market has been cautious regarding corn supply levels, with fewer local market participants. Argentine corn FOB prices closed around US$205 for January and February, and US$195 for March.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

With fewer participants in the local market, immediate delivery options opened up According to TF Agroeconomic, corn exports are concentrated in the winter harvest. “Premiums remained at $65 for July/24, $61 in August/24, rose $1 cents/bushel to $61 in September/24 and remained at $60 for October/24, in the ports of Santos and Tubarão” , comments. “The 0.66% drop in the dollar overshadowed the slight increase of 0.17% in the price of corn in Chicago, not allowing Tradings to improve the prices offered in the interior of the country, which are already around 11% below the prices offered by local industries. As a result, export business for immediate shipment remains blocked”, adds the consultancy. On the demand side, in China the March corn price for March rose again by 9 CNY/t this Tuesday; corn starch in March fell by 1 CNY/t; the price of a dozen eggs for February fell for the fifth consecutive day by another 35 CNY/500 thousand units and pig prices fell by 100 CNY/t. “In ...

Source: Abramilho