Purchasers press down and quotes drop in most Brazilian regions

Cepea, May 3, 2018 – Corn prices dropped in most Brazilian regions surveyed by Cepea in April. Many processors seemed to have comfortable inventories for the short-term and, thus, bid lower prices for new batches. Sellers, in turn, were more flexible regarding asking prices, in light of the larger corn volume available in central-western as well as from São Paulo and Minas Gerais. In the field, dry weather in some areas of Paraná and Mato Grosso do Sul was concerning growers about possible damages to crops.

 

In Campinas (SP), the ESALQ/BM&FBovespa corn Index (Campinas, SP) dropped 2.3% between March 29 and April 30, closing at 39.40 BRL (11.24 USD) per 60-kilo bag on April 30.

 

Price drops were also linked to the higher stability of freight values. Some purchasers were trying not to acquire corn batches from some areas of the central-western region, since they were concerned with delivery time and the quality of the product stocked.

 

FIELD – The dry weather in the producing regions from Paraná, São Paulo and Mato Grosso do Sul has been concerning agents regarding a possible negative impact in the productive potential of the second crop. In Mato Grosso and Goiás, however, the weather has been favorable, increasing perspectives for productivity next season.

 

As for summer crops harvesting, the dry weather in São Paulo and Rio Grande do Sul has been favorable to fieldwork. Harvesting is ending in SP, but some growers are concerned with the few crops still developing. In RS, only 8% of the crops need to be harvested, according to Emater.

 

In Paraná, summer crop harvesting had reached 90% of the area until April 23, according to data from Seab/Deral. Despite the lack of rains, around 87% of the crops to be harvested are in good conditions. For the second crop, however, concerns are higher. Sowing ended and, in the last week of April, 93% of the crops were in good conditions, with 7% in average conditions.

 

(Cepea-Brazil)

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