Index surpasses 85 BRL/bag in January and nears the real record

Cepea, February 2, 2021 – Low corn supply in Brazil and high export parity (which keeps shipments at a good pace) continued to boost quotes in the domestic market in January. Moreover, demand was high in Brazil last month.

 

As a result, average prices set new nominal records in the series of Cepea in many regions. In some areas, such as Paranaguá port (PR), northern and western Paraná, Dourados (MS) and Rio Verde (GO), the averages in January set real records.

 

From December 30 to January 29, the ESALQ/BM&FBovespa Index (Campinas, SP) rose by 5.96%, closing at 83.34 BRL (15.20 USD) per 60-kilo bag on January 29. On January 20, the Index closed at 85.44 BRL/bag, a new nominal record and near the real record, of 87.35 BRL per bag, registered on November 30, 2007 (values were deflated by IGP-DI December/20).

 

In the Brazilian spot market, the trading pace was slow because purchasers considered prices too high, while sellers were refrained, expecting new price rises, based on the smaller summer crop.

 

CROPS – After concerns about the lack of rains during sowing and development of crops, mainly in southern Brazil, recent rains have favored crops.

 

(Cepea-Brazil)

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