Cepea, September 17 2019 – Corn prices have resumed behaving oppositely among the Brazilian regions surveyed by Cepea, influenced by the supply and demand in each one of them. In most part of central-western BR, quotes dropped in the first fortnight of September, pressed down by higher supply, while in São Paulo and in Santa Catarina, prices rose, reflecting demand, which is higher.
Between August 30 and September 13, the ESALQ/BM&FBovespa Index (Campinas, SP) for corn increased 2.3%, closing at 37.58 BRL (9.19 USD) per 60-kilo bag on September 13.
Brazilian corn exports have been at a fast pace, totaling 2.04 million tons in the first five working days of September, according to data from Secex. The daily average of shipments in the first half of the month was at 409.4 thousand tons.
In a report released in the second week of September, Conab (National Company for Food Supply) revised up the estimates for the second crop corn, to 73.8 million tons, a record. Thus, the Brazilian corn output should total 99.9 million tons, larger than that reported in August, largely due to the higher productivity in Paraná and in Goiás.
According to Conab, 63 million tons of corn should be consumed in Brazil, and 35 million, exported. Thus, ending stocks by January/20 are estimated at 17.7 million tons, accounting for 27% of consumption in Brazil.
In the field, Brazilian soybean farmers have been focused on the dry weather and sowing of the summer crop. In Paraná, sowing had reached 9% of the estimated area until Sept. 10, according to Deral/Seab.