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)