Off-season and export parity support prices

At this beginning of December, Brazilian corn prices kept firm, supported by the higher export parity and the off-season period. The CEPEA/ESALQ Index (based Campinas region) increased more 2.21 percent between November 30 and December 13, closing at 11.70 dollars per bag of 60 kilos this Wednesday - only in November, the increase was of 16 percent.

At the Chicago Board of Trade (CBOT), contracts also keep increasing. The contract for March had already overtaken 3.70 dollars per bushel, nominal value that was not reached since 1996.

One important reason for the continuous corn prices increase both in the domestic and international markets is the lower corn exports from the United States, which could help the demand by other countries, as Argentina and Brasil.

According to Conab (National Company for Food Supply), Brazilian corn cultivated area should increase 5.7 over the previous crop, totaling 33.63 million tons.

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