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Corn: Price rises almost 20% in the month of partial and surprising agents

The sharp rise in corn prices in Brazil in recent days can be considered in the least surprising.

Corn: Price rises almost 20% in the month of partial and surprising agents

One can even say that neither buyers nor sellers consulted by Cepea waiting oscillation in such intensity. And the upward movement could remain for the next months, since the futures contracts in Brazil indicate higher prices than current for longer maturities. This is the reaction to the cut of more than 46 million tons in US production, which will prevent that world stocks to rise. For Brazil, this may be the expected opportunity to export the surplus. In the partial accumulated in the month (from June 29 to July 16), the ESALQ / BM & FBovespa (Campinas-SP) Indicator rose strong 19.44%, closing at R $ 28.75 / bag of 60 kg on Monday, 16. When comparing the rate of discount NPR, also in Campinas, the average spot price was R $ 28.21 / sc 60 kg in the second, with a significant increase of 19.8% over the same period.

Source: Source: Cepea

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