Summer crop planting starts with lower prices

The planting of summer corn crop has been starting little by little in the main producer states of the South of Brazil. Higher costs in 2008/09 crop and decreasing prices, due to the high inventories of 2007/08 crop, should reduce the planted area in some regions, like Paraná state. According to Seab (Paraná state Agriculture Secretariat), the decrease should be of 5 percent in relation to 2007. Paraná is the main producer state of corn in Brazil.

According to the latest forecast for 2007/08 crop (finished), published by Conab on Sept 8th, the Brazilian corn crop production decreased slightly, the domestic consumption remained stable and exports reduced. As a consequence, ending stocks enlarged.

From August 19th until September 15th, the ESALQ/BM&F Index (Campinas region) downed 2.34 percent in Real, closing at 23.96 reals or 13.21 dollars per bag of 60 kilos. (Cepea - Brazil)


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