Brazil: Corn shipments totaled 1.2 million tons

Published Mar 24, 2023

Tridge summary

Chicago corn prices remained stable, with the cereal bushel closing at US$ 6.31, unchanged from the previous week. The market is now awaiting the definition of the US planting intention report for the local summer crop, scheduled for 03/31. In the meantime, US corn shipments totaled 1.2 million tons, bringing the total shipped in the commercial year to 17.5 million tons. The US, Ukraine, and Brazil were the main corn suppliers to China in the first two months of the current year, with the US being the largest supplier, despite a decrease in shipments compared to the same period last year. In Brazil, prices continued to fall, with the average value reaching R$ 81.35/bag in Rio Grande do Sul, while 91% of the planting of the second crop in the Center-South of Brazil has been completed, slightly behind the historical average. The quality of crops is generally good, with 99% in good condition. The total area of cereal in Brazil is estimated at 22 million hectares, marking a slight reduction of 0.8% from the previous year.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Corn prices in Chicago remained stable this week. The cereal bushel closed on Thursday (23) at US$ 6.31, against US$ 6.32 a week before. The market awaits the definition of the area to be sown in the USA, in this next local summer crop, which will be included in the planting intention report, scheduled for the next 03/31. Meanwhile, US corn shipments totaled 1.2 million tons in the week ended 03/16, within market expectations. With this, the total shipped in the commercial year reaches 17.5 million tons, against more than 27 million in the same period of the previous year. The US was the main corn supplier to China in the first two months of the current year, reaching 2.35 million tons, that is, an increase of 22% over the volume exported to the Asian country in the same period last year. Ukraine, on the other hand, supplied only 1.18 million tons, with a decrease of 56%, while Brazil reached 1.48 million tons of corn sold to China, in the period, sales that were the first since ...
Source: Agrolink

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