According to the latest Foreign Trade Secretariat (Secex) data, Brazil totaled shipments of 9,396,118.3 tons of unprocessed corn (excluding sweet corn) in August. This implies a 26.18% increase when compared to August 2022 (7,446,091.3 tons). The daily average of shipments was 408,526.9 tons, representing a 26.2% rise over the same period last year and a 26.2% increase over the 323,743.1 of August 2022. According to Intelligence Analyst Joao Pedro Lopes at StoneX’s Market, Brazilian corn exports are strong and helping to offset price declines caused by the country’s abundant supply of the commodity.
Source: Notícias Agrícolas (*Translated by Ia Niani)