News

Brazil ships 91% less corn per day in April 2024 than recorded in April 2023

Maize (Corn)
Brazil
Market & Price Trends
Published Apr 23, 2024

Tridge summary

In April 2024, Brazil experienced a significant decline in its unground corn exports, with volumes dropping to 34,235.7 tons, a mere 7.27% of the previous year's exports for the same month. This represents a 91.3% decrease in the daily average shipments compared to April 2023. Despite this sharp decline, market analyst Ruan Sene from Grão Direto views the situation as not alarming, noting that the market has recovered from worse starts in the past. Additionally, revenue from corn exports saw an 88.5% decrease in daily average revenue year-over-year. However, the silver lining is the 31.5% increase in the average price per ton of Brazilian corn from April 2023 to April 2024, indicating a potential for recovery in the market.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

This Monday (22), the Foreign Trade Secretariat (Secex) reported that the shipped volume of unground corn (except sweet corn) reached 34,235.7 tons. The volume represents just 7.27% of the total exported in April last year, which was 470,805 tons. The daily average of shipments until the third week of April/24 was 2,282.4 tons, representing a drop of 91.3% compared to the daily average shipped in April of the previous year, which was 26,155 tons. Grão Direto Market Analyst, Ruan Sene, highlights that between January and March Brazil exported 7 million tons compared to the 9.4 million accumulated in the first three months of 2023. "This month of April is shaping up to be a very cold month for shipments. But despite this discrepancy if we compare it to last year, looking at previous years it is still not a sign of alarm, we have already had much worse beginnings of years than these and the market is there was more movement in the second half of the year", says Sene. Regarding ...
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