The year of 2007 was very positive for Brazilian corn sellers who have stocked the product for trading in the second semester. Those who traded immediately after the harvest (March-April) did not get the recent increases.
At the Chicago Mercantile Exchange (CBOT), quotations increased 12 percent between January and December this year, after they increased 52 percent in the last trimester of 2006. The average price in 2007 was roughly 60 percent higher over the last three years.
In Brazil, the ESALQ/BM&F Index (Campinas - SP region) increased 36.5 percent in Real between January and December this year. From April until now, the raise was of 80 percent. In average, the value received by growers in December was 54.5 percent higher over January; in trade between companies, the increase was of 48.3 percent.
Regarding exports, Brazilian corn trades was superior to 10 million tons between January and November, the highest volume ever exported in one year.