Possible record output drives purchasers away from the spot and prices drop in BR

Cepea, August 5 2019 – Perspectives for a possible increase in corn supply in the coming weeks, as the harvesting advances in Brazil, pressed down quotes in the Brazilian market in July. On the other hand, the fast exports pace constrained the price drops in some regions in the country.

 

In general, purchasers were postponing acquisitions of new batches, expecting better trading opportunities, while sellers prioritized the delivery of batches previously purchased. In Campinas (SP), purchasers remained away from the market most part of the month.

 

Between June 28 and July 31, the ESALQ/BM&FBovespa Index (Campinas, SP) dropped 7.1%, closing at 36.09 BRL (9.50 USD) per 60-kilo bag on July 31.

 

BRAZILIAN FIELD – In the field, the harvesting in Mato Grosso advanced more than it did in the same period of previous years, having reached 86.13% of state area in July, according to Imea. In São Paulo and Mato Grosso do Sul, the dry weather favored activities: in SP, the harvesting pace was slow, but in Mato Grosso do Sul, 40% of the area has been harvested.

 

In Paraná, data from Deral/Seab released on July 22 indicated that 65% of the second crop area has been harvested. Of the crops still in the field, 6% were in bad conditions, 20%, in average conditions, and 74%, in good conditions.

 

(Cepea-Brazil)

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