Index ups more than 15 pct in the first fortnight

In the first fortnight of September, Brazilian corn prices moved up expressively. The ESALQ/BM&F Index (Campinas region) increased 15.09 percent in Real between Aug 31st and Sept 14th, closing at 27.49 reals or 14.46 dollars per bag of 60 kilos on Friday, Sept 14th.

The support remains coming from the higher demand, especially by hog and poultry sectors. In this period, industries start to fill up their stocks for supplying the demand of the last trimester of the year, when meat sales usually increase.

From this month on, players turn their focus on trading the grain in stock and on planting activities of the new crop.

The higher values should contribute to increase the 2007/08 crop area. According to the Seab (Parana Agriculture Secretariat), until Sept 10th, the cultivated area in the Parana state has reached 8.4 percent of the total expected (1.4 million hectares).

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