The harvest pace, with stocks held by consumers, and export prices are bringing an environment of firm prices to the Brazilian domestic market in the middle of the harvest of the second season. There is also the capitalization of growers, which does not stimulate new sales of part of the second crop and lead them to retain some production.
Corn prices rose again last week. Port prices fluctuate considerably due to foreign exchange and external prices. The week closed with indications at ports between BRL 50/51 for August/September. Levels that advance to BRL 46/47 in the interior of Paraná, BRL 40/41 in Goiás, BRL 46/47 in the interior of São Paulo, and BRL 34/35 for physical corn in Mato Grosso. However, deals are beginning to take place with longer deliveries and payments at prices above these from the physical market.
Corn shipments at Brazilian ports are good and signaled 5.4 million tons in July, with 2 million tons shipped over the month. Possibly, the scheduled volume will not be confirmed this month, which carries the August shipment that has registrations of 2.3 million tons so far. For now, there is no surprise in volumes, which are within the schedule for an annual volume of 34/35 million tons. The basic issue lies in the October and January schedules, since shipments are always more significant from July through September.