The dry weather in Brazil has been concerned corn growers, who start the summer crop planting activities from September on. In the states of Paraná and Rio Grande do Sul, the corn cultivated area should be replaced by the soybean one. At the same time, corn growers are optimistic, due to the good perspective of demand and to the international prices levels.
In the domestic market, Brazilian corn prices increased in some regions, supported by the higher demand (especially by hog and poultry sectors) and dropped in other ones, due to the volume of corn in stock.
The ESALQ/BM&F Index (Campinas region) closed at 27.32 reals or 14.90 dollars per bag of 60 kilos on Sept 28th, upping 14.4 percent in Real over Aug 31st.