Trades keep moving slowly in Brazil

In the second fortnight of March, Brazilian corn market kept moving at a slow pace. In some regions, the harvesting progress, higher supply and weak demand remained pressing quotations down. In other ones, however, exporters and some industries of poultry and hog sectors were more willing to trade, supporting the values. Moreover, auctions from Brazilian government contributed for some increases. To export, trades kept moving at a slow pace.

From Mar 16th to 31st, the ESALQ/BM&FBovespa Index (Campinas region of Sao Paulo state) upped 2 percent, closing at 20.99 reals or 9.07 dollars per bag of 60 kilos. In Paraná state, the main Brazilian corn producer, until the end of March, harvest activities corresponded to 56 percent of the cultivated area, according to Seab (Paraná Agriculture Secretariat).

The summer production in Paraná state (6.02 million tons) should reduce 38 percent compared to the previous year, due to the lower area and productivity, of 8 and 30 percent. For the winter crop ("second crop"), however, the production is expected to enlarge 14 percent, totaling 6.5 million tons - the planting has already reached 89 percent and the development keeps positive. (Cepea - Brazil).

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