Corn, soybean market slows down during February in Brazil

06.03.2017

The corn market in Brazil was slow during February as usual for the period. For the Safras & Mercado analyst Fernando Henrique Iglesias, “in general, at this time of the year, the market is focused on the soybean harvest and shipping. In some states, like Sao Paulo, there is greater difficulty to compose stocks, resulting in higher prices in these regions,” he said. In a month with just 18 working days due to carnival, the revenue with corn exports reached US$ 4.8 million with 487,400 tons shipped.

There was a fall of 89.8 percent comparing to the average of February of last year. In the case of soybeans, there was more expectation from the market, but yet there was sales of 4.2 million metric tons with a revenue of US$ 1.7 billion, which is 47.16 percent higher than the same month of 2016, accouting meal, grain, oil and fuels. The harvest is going faster, mostly in the state of Mato Grosso. Soy export accumulate 6.67 million metric tons in the year. On the other hand, soybean meal exports dropped significant in the period.


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