The Brazilian corn market registered a drop in April
Agrolink – Aline Merladete
Published on 05/06/2024 at 10:28am.
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The Brazilian corn market registered a drop in April, as highlighted by the latest newsletter from the Center for Advanced Studies in Applied Economics (Cepea). The ESALQ/BM&FBovespa corn indicator, referring to the region of Campinas – SP, presented a reduction of 5.9% in relation to the previous month. Compared to the same period last year, the drop was 13.6%, in real terms, as calculated by the General Price Index – Internal Availability (IGP-DI) of March 2024.
Cepea researchers highlight that producers have concentrated their efforts on developing the second crop and harvesting the summer crop, thus postponing the commercialization of the cereal. As far as demand is concerned, the remaining stocks from 2022/23, together with the satisfactory progress of the summer harvest harvest and the smooth development of the second harvest crops, have led buyers to restrict their purchases only for the short term. term.
Furthermore, Cepea researchers note that the summer harvest in Rio Grande do Sul was interrupted in recent days due to excessive rain and flooding in several regions of the state. In the south of Mato Grosso do Sul, Paraná and São Paulo, concern is growing due to the low volume of rainfall and high temperatures, which can negatively impact the development of crops.
