Methodology

Product specification: Brazilian yellow corn in bulk, with regular odor and appearance, kept under good storage conditions, free from castor-oil seed, other bad seeds, and live bugs; hard or semi-hard from the latest crop, under adequate market condition and suitable for animal feed; with (a) maximum 14% moisture; (b) foreign matter basis 1% in the sieve; (c) maximum 6% heat-damaged or sprouted kernels and free of moldy kernels; (d) maximum 12% broken, split or hollow kernels;
Unit of measurement/Currency: 60-kilo bag. The Index is originally calculated in Real, but it is also released in US dollar. It is a simple conversion of the value in Real to dollars – commercial exchange rate, asking price at 4:30 p.m. (Brasilia time);
Delivery: values refer to trades in the wholesale market (between companies), regarding grains delivered at warehouses in Campinas region;
Reference region: purchases and sales in Campinas region, São Paulo State, and sales from other regions to Campinas;
Discount rate: The ESALQ/BM&FBOVESPA Index for corn considers the CDI (Interbank Deposit Certificate) rate to convert term prices into cash prices; Campinas average prices use the NPR (Rural Promissory Note) rate;
Taxes: no ICMS (tax) included; 
Calculation: arithmetic average of cash prices;
Statistical treatment: The daily sample is subjected to two statistical procedures: standard deviation (it is accepted values between the intervals of two standard deviations up and down in relation to the sample average) and analysis of the variation coefficient;
Frequency: daily;
Historic: since August 2004;
Agents consulted for the survey: sellers (cooperatives/companies), purchasers (food industry, poultry and swine industries, feed industry and stockbrokers);
Other Cepea surveys for the corn market: Besides Campinas, there are surveys of corn quotes in 23 regions – both over-the-counter market (prices paid to growers) and in the wholesale market. 
 
Source: Cepea

Contact

Staff

Staff

Coordinator
Geraldo Sant’ana de Camargo Barros, Ph.D
Full professor of the Department of Economics, Management and Sociology

Chief Researcher
Lucilio Rogerio Aparecido Alves, Dr
lralves@usp.br

Research Assistants

André Sanches
Débora Kelen Pereira da Silva
Isabela Rossi
Carolina Sales
Raphaela Spolidoro
Márcia Ferreira
Kaline Lacerda
Liziane Dias