Brazilian corn prices dropped slightly at the end of January, due to the lower market liquidity. On Jan 30th, the ESALQ/BM&FBovespa (Campinas region - Sao Paulo state) closed at 23.46 reals or 10.13 dollars per bag of 60 kilos, down 2.86 percent in Real from previous Friday. In the accumulated of the month, however, the Index registers an increase of 10.2 percent in Real.
Trades are expected to move at a better pace next weeks, once a higher corn supply from the new crop should be available.
In general terms, agents keep focused on the climate, both in Brazil and Argentina. Rainfalls are positive, however, not enough to revert losses. (Cepea - Brazil)