CBOT boosts domestic values in the 2005/06 crop

In 2006, Brazilian corn prices moved down until April, increasing a little till August and boosting from September to December, supported especially by the higher international values.

At the Chicago Mercantile Exchange (CBOT), futures for the grain, which started 2006 at low levels (80.00 dollars per ton), increased expressively from August on. Between January (monthly average) till December (average until Dec 21), corn prices at CBOT upped 70.48 percent, from 83.98 dollars per ton to143.16 dollars per ton.

Agents started 2006 expecting a higher production for the summer crop (2005/06) and were not sure about the winter crop. The summer crop, in fact, increased 16.5 percent over the previous crop, and the planting area enlarged 6.5 percent. Regarding the winter crop, the planting area reduced 1.8 percent, and the its production was 3.8 percent lower. The Conab forecast the total 2005/06 crop at 41.68 million tons, volume 19.1 percent higher over the previous season.

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