Corn export brings hope to the Brazilian market

Published Mar 2, 2023

Tridge summary

The Brazilian corn export market is showing signs of price improvement with potential demand from large trading companies looking to load corn ships, replacing soy ships due to a delayed harvest. However, this could lead to conflict with domestic industries, potentially resulting in price increases. In contrast, Paraguay's 2022 corn crop is nearly fully sold, while sales of the 2023 crop are slow due to improved soy yields and more space in warehouses. The cost of producing and selling the 2023 corn crop in February was least favorable to farmers in many years, leading to reduced sales.

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

Original content

The Brazilian market for corn for export has begun to show hope in terms of prices, according to information released by TF Agroeconomia. “Premiums remained at $60 cents/bushel for July 23; retreated to $100 for August23 and retreated to $110 for September,” he comments. “Today we heard in the market, from at least two large trading companies, that they are studying the possibility of putting corn ships to load in Brazil, to replace soy ships, because the harvest of this oleaginous plant is late. It's not something common and it's not consolidated, they're just thinking about doing it. But, if they do, there could be a new round of demand for Brazilian corn for export in the next 30-45 days, which means an intensification of the dispute with the domestic industries and, with this, a small possibility of price increases. Nothing confirmed, yet, but our subscribers are aware of it firsthand and can position themselves in the face of this”, he completes. In Paraguay, the 2022 crop is ...

Source: Agrolink