Stable prices without supply pressure

The rate of deceleration prices fell last days in the Brazilian corn market. Among the reasons were the slow pace of the summer crop harvesting and the concern about the winter corn crop planting, especially in the Center-Western region. Moreover, the increases of export parity, the firm prices of the product delivered in the Paranaguá port and the international market have also contributed for the support.

Without supply pressure and with buyers more willing to trade, the ESALQ/BM&F Index (Campinas region) kept almost unchanged between Feb 7th and 14th, averaging 27.67 reals or 15.81 dollar per bag of 60 kilos this Thursday. In the month (until Feb 15th), the Index accumulates a decrease of 2.6 percent, but the average of February keeps higher over Feb/07.

According to the Emater (Regional Agriculture Office), until Feb 14th, 24 percent of the total area cultivated was already harvested in the Rio Grande do Sul state. For the Paraná state, the Seab/Deral (Paraná Agriculture Secretariat) showed that, until Feb 11th, 5 percent of the corn area was harvested.

The Rio Grande do Sul and Paraná states should produce 44 percent of the total summer corn crop production of the Center-Southerner region and 38 percent of the total volume produced in Brazil. The Conab (National Company for Food Supply) forecasted the Paraná production at 8.9 million tons and the Rio Grande do Sul one at 5.5 million.

Surprising market agents, the volume of antecipated trades increased expressively in this season. According to the Seab/Deral, until Feb 11th, 15 percent of the summer corn crop was already traded in Paraná state.

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