Brazilian corn prices kept moving down during the second fortnight of February, pressed especially by the summer crop harvesting progress and also by the lower demand. It is important to consider that stocks are high. Exports also moved at a slow pace, because of decreasing international figures. The ESALQ/BM&FBovespa Index (Campinas region of Sao Paulo state) dropped 9.52 percent in Real between January 30th and February 27th, closing at 21.23 reals or 8.95 dollars per bag of 60 kilos on Feb 27th.
In general terms, agents kept focused on the weather in Brazil and Argentina. In Rio Grande do Sul state, rains have been enough to maintain the development of fields. In Paraná state, the harvesting is moving on even with rainfalls, different from what is happening in Mato Grosso do Sul state, where activities are a little delayed. On the other hand, rains have been helping the winter corn crop development. (Cepea - Brazil)