Brazilian corn shipments in 2023 have exceeded expectations due to a record crop, high demand from China, and reduced sales from Argentina. The strong export flow has caused regional reductions in corn supplies, leading to price recovery in the domestic market. However, Brazilian consumers have been slow to react to the impact of exports on regional supply, resulting in low stocks and rising prices.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Without a doubt, Brazilian corn shipments have been surprising in 2023. The result of a record Brazilian crop, excellent Chinese demand, and Argentina’s absence in sales in the second half of the year have contributed to this exceptional result registered so far. For now, export commitments now exceed 50 mln tons, not including all December registrations and additional shipments in January. Therefore, it is natural that the Brazilian domestic market feels some support for price recovery, given the regional reduction in offers. What was not expected at the end of the year is the carefree positioning of the consumer sector in observing this export flow, keeping stocks low and susceptible to this situation of regional reduction and retention by producers. The Brazilian summer corn crop, 23/24, continues to advance in good conditions. In the extreme South, excess moisture and low luminosity have brought some potential reduction in productivity. However, for now, what we have is a ...