Corn crop expected to be huge in Brazil as farmers wait to sell

The expectation of a huge second corn crop in Brazil is pushing local farmers to wait and avoid sales. Prices paid to producers have dropped from nearly R$ 30 per bag of 60 kilograms in January to nearly R$ 23 in some producing locations now. “This context is justified by the good expectations with the second corn crop, the reconditioning of the volume produced comparing to 2016 and inconstant demand,” explains Cristiano Palavro, technical consultant of the Association of Soybean Growers of Goias.

In the state of Goias, after last year’s drought with a production by 4.5 million metric tons, there is an expectation of a harvest of 7.72 million metric tons of corn this year. Nationally, the crop is expected to size 91.46 million metric tons, according to the National Supply Company.

 

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