Harvest moves on, and prices decrease in Brazil

As Brazilian corn harvest moves on, the domestic prices decrease. Since the beginning of February, prices downed 6.23 percent, with the ESALQ/BM&F Index (Campinas region) closing at 10.84 dollars per bag of 60 kilos.

The harvest of the main corn crop in Brazil goes from January to September, starting in the Rio Grande do Sul state and finishing in the North and Northeast.

According to the Emater (Regional Agriculture Office), in the Rio Grande do Sul state, 15 percent of the planting area was harvested until the end of January - it is considered a normal pace. The productivity should be expressively higher than the average of the last five years. The Emater forecasts 3,980 kilos per hectare - 47 percent superior to the average.

Between February and July, the entire Center-Southerner region will be harvesting as well as in the North and Northeast. Trades between growers and tradings (crushers, for example) usually increase in this period of year, instead of trades between companies.

The perspective of good corn production during this crop (summer and winter crops) has been increasing exports. In January, export figures amounted 463 thousand tons, according to the Secex (Foreign Trade Secretariat). It is the second higher volume exported by Brazil in the month.

The higher corn consumption in the United States keeps being the highlight in the international market. The corn price at the Chicago Mercantile Exchange (CBOT) has kept the levels of more than 4.00 dollars per bushel.



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