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Corn: Record harvest in Brazil should not cause decline in prices
Despite the productivity record of prediction in Brazil, the current crop of corn does not guarantee that there are low grain prices
According to Pedro Arantes, market analyst FAEG (Federation of Agriculture and Livestock of Goiás), even with the high volume of cereal surpluses which should reach the market, there are at least three factors that can lead to an upward movement in prices.
The first factor that can cause high blood pressure is influenced by the rains which continue to affect the producing region of Paraná State, where corn is beginning to deteriorate and fall to the ground. According Jurandir Lamb, farmer of Cascavel, the grains are already very committed and the harvest already reached a loss of 30%.
In addition, drought in the United States has worried corn buyers, who fear an even greater rise in futures prices if the drought continues gaining strength. "The situation in the United States has already made a driven R $ 1.50 in corn here in the Midwest, and should continue much influencing the market," argues Peter, who believes that the purchase of cereal still damp by industries, as has been happening in Paraná state and in Goiás and Mato Grosso, is a sign of market concern over the future of the cereal. "The industries still have reasonable stocks, but still are buying the still damp corn. The market is concerned about the uncertain scenario of corn, "says.
As another factor that can bring high for the cereal pressure, is anticipated sale of grain. According to market analyst FAEG both Goiás as Mato Grosso have already sold around 60% of their crop before the harvest is finished.
Regarding the internal market, Pedro Arantes also noted that corn should not suffer as many losses in Goiás and Mato Grosso, and there is the possibility that these regions may see an increase in their exports, depending on how much is the break in Paraná harvest: "For us in the Midwest, it may be that export demand grow in this scenario," he says.
Source: Source: Agricultural News // Thais Jorge
