Brazilian corn exports continue to rise in August

Brazil’s corn exports continued at a rapid pace in the first three weeks of August, after breaking a record the previous month, according to data from the Secretariat of Foreign Trade (Secex) of the Ministry of Economy.

In the first 12 business days of August, corn shipments totaled about 4.3m tons, an average of 358,100 tons per day, while the previous month’s total average was 274,600 tons daily.

The daily average indicates that August shipments may exceed those of the previous month.

In July, total grain exports were 6.32m tons, greater than the previous record of December 2015. At that time, experts already indicated that August sales could be even higher.

Year-over-year shipments for August 2018 totaled 2.82m tons.

In addition to strong exports, Brazil is also expected to hit a record corn crop this season, at 101.91m tons, according to a Reuters survey of institutions and experts.

Source: Reuters

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