News

Corn exports remain strong, with daily shipments in Feb/24 surpassing those in Feb/23

Maize (Corn)
Brazil
Market & Price Trends
Published Feb 20, 2024

Tridge summary

In the first three weeks of February 2024, Brazil saw a significant increase in unground corn exports, accounting for nearly 64% of the total exported in the same month the previous year. This surge in exports, which saw a 15.2% rise in daily average shipments, has led to a decrease in internal availability and stocks. However, the average price per ton of Brazilian corn has dropped by 10.3% compared to the previous year.
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.

Original content

In the first three weeks of February 2024, Brazil shipped 1,455,171.5 tons of unground corn (except sweet corn) for export, according to a report from the Secretariat of Foreign Trade (Secex). This already represents 63.98% of the total exported in February 2023 (2,274,230.8 tons). As a result, the daily average of shipments in these first 10 working days of the month was 145,517.2 tons, representing an increase of 15.2% in relation to the daily average of shipments of 126,346.2 tons recorded in the 18 working days of last February. Céleres Consultoria Analyst, Enilson Nogueira, highlights that since September 2023 corn export volumes have been quite high, keeping these shipments relevant in January and February. “It is natural that from May onwards these volumes will fall, even giving way to soybeans and other crops. But when we look at the volumes in January and February, this helped to reduce internal availability and stocks within Brazil”, says Nogueira. In financial terms, ...
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