News

Corn shipments from Brazil begin to lose strength in the 4th week of February

Maize (Corn)
Brazil
Market & Price Trends
Published Feb 27, 2024

Tridge summary

Brazil's unground corn exports in the first four weeks of February 2024 reached 1,677,900.8 tons, accounting for 73.77% of the total exported in the same month the previous year. Despite this, the daily average of shipments fell by 11.5% compared to February 2023. The total revenue from these exports was US$424.293 million, marking a 24.9% drop on a daily average. The average price per ton of Brazilian corn also decreased by 15.2% from R$298.20 in February 2023 to R$252.90 in February 2024.
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 four weeks of February 2024, Brazil shipped 1,677,900.8 tons of unground corn (except sweet corn) for export, according to a report from the Secretariat of Foreign Trade (Secex). This already represents 73.77% of the total exported in February 2023 (2,274,230.8 tons). As a result, the daily average of shipments in the first 15 working days of the month was 111,860.1 tons, representing a drop of 11.5% in relation to the daily average of shipments of 126,346.2 tons recorded in the 18 working days of last February. Grão Direto Market Analyst, Ruan Sene, highlighted a positive movement in exports recorded at the beginning of the year, but now believes in a seasonal low in shipments. In Sene's view, the demand movement for Brazilian corn could strengthen again in the second half of 2024. In financial terms, Brazil raised a total of US$424.293 million in the period, compared to US$678.147 million in all of February last year. ...
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