News

Brazil: With new drops, corn indicator closes below R$ 60/sc

Maize (Corn)
Brazil
Sustainability & Environmental Impact
Market & Price Trends
Published Apr 15, 2024

Tridge summary

Corn prices have experienced a notable decline across various regions, as reported by Cepea, with the Esalq/BM&FBovespa Indicator in Campinas-SP dropping below R$60 per 60 kg bag for the first time since the previous November. This trend is largely due to a combination of factors including buyers' hesitance to acquire new stocks owing to adequate short-term supplies, the progress of the summer harvest in Brazil, projections of high global production, and external currency devaluations. Despite some weather-related concerns in areas cultivating the second crop, sowing has been almost entirely completed, covering 99.5% of the national area, leaving only a few regions pending.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Corn prices continue to fall in most regions monitored by Cepea. Last week, the Esalq/BM&FBovespa Indicator (Campinas-SP) closed again below R$60 per 60 kg bag, which had not been seen since November last year. Check out hot information about agriculture, livestock, economy and weather forecast in the palm of your hand: follow Canal Rural on WhatsApp! According to Cepea researchers, buyers are staying away from acquiring new lots in the national spot, indicating that they have stocks for the short term. In addition to the retracted demand, the intensification of the summer harvest in Brazil, estimates pointing to high world production and external devaluations reinforce the downward movement. Despite specific concerns about the climate in ...
Source: CanalRural
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