Higher demand pushes up quotes in Brazil

Cepea, September 3 2019 – Corn prices increased in August in most Brazilian regions surveyed by Cepea, boosted by the higher domestic demand, the strong US dollar, the fast exports pace and sellers’ retraction.

 

The highest price rises were observed in typical consuming regions, such as São Paulo and Santa Catarina. Between July 31 and August 30, the ESALQ/BM&FBovespa Index (Campinas, SP) increased 1.7%, closing at 36.72 BRL (8.89 3SD) per 60-kilo bag on August 30.

 

Exports, in turn, reached a new record for the month, totaling 6.28 million tons in the first 17 working days of August, according to data from Secex.

 

In the field, growers have already started to prepare for the 2019/20 summer crop. In Paraná, data from Seab/Deral indicate that the area allocated to corn may be 6% smaller, but productivity should grow by 6%, leading production to total 3.11 million tons, similar to that in the 2018/19 crop. So far, sowing has reached only 1% of the area in Paraná.

 

In Rio Grande do Sul, Emater estimates the planted area to increase by 1% in the 2019/20 season. Productivity is expected to increase by 2.58%. Thus, the output should total 5.95 million tons, 3.65% larger than that in the previous season.

 

As for the 2018/19 second crop, until August 26, the harvesting had reached 96% of the area in Paraná.

 

(Cepea-Brazil)

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