The first corn from the new Brazilian crop pushes the record prices of recent weeks, which resulted in that the meat industry of the country had to partially adjust their production.
Although in Mato Grosso and Paraná, the largest corn growing regions of Brazil, so far only small amounts from the new crop on the market, the astronomical prices are everywhere in the country suddenly under pressure. On the spot market, there were no goods in the meantime. For the standard 60 kg bag you paid up to 50 reais, now there are still 32 to 40 reais. The price normalised and the offer comes again.
Before a fundamental market turnaround no mention can be but still, as the harvest begins long since not all over the place. Until end of June we go everywhere. Some farmers want to but still benefit from the high price level. Even the 32 to 40 reais are still three times higher than a year ago. Until late last week, 3% of corn were harvested. Now is the speculative element from the prices, but hope the country's animal feed manufacturer, because the offer comes again. Also return to offers from Paraguay starting next week. The speculation is now over!
