Ports reinforce leftover corn in Brazil

The inflexibility in corn exports is quite evident on the agenda of Brazilian ports. With more cereal left over internally, prices can decongest in chains until they reach consumers.

The line-up on the 19th, researched by Germinar Corretora, shows the current movement for the next few days, 1.826 million tons, considering ships embarking, offshore (waiting for berthing), and arriving in the country.

This number is not only slightly lower than that reported by the port authorities on November 17th – 1.968 million/t – but it is well below the almost 3 million tons reported in the first 10 days of November 2020.

SECEX pointed to 1.1m/t between the 1st and 12th of this month.

Roberto Carlos Rafael, CEO of the brokerage and analysis house, believes that the month will close with consolidated exports between 2 and 2.5 million tons, around half of the figure for year-on-year comparison.

In addition to the demand falling short of last year, the fall in the winter crop accentuated the supply scenario. The corn from the American harvest, which has just ended, also exerts strong pressure on the Brazilian cereal.

This year, total exports may reach 18m/t, against 34m/t in 2020.

Source: Money Times

To read the full original article, visit the link: https://www.moneytimes.com.br/panorama-dos-portos-reforca-sobra-de-milho-no-brasil-pode-ser-bom-para-a-inflacao/

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