According to Brandalizze Consulting, Vlamir Brandalizze, corn prices showed strong upward movement in the beginning of 2021, with potential to be even higher and not impacted by the recent declines. The analyst believes that the current environment is positive, with great world demand and shortfalls in global corn supplies. Corn production may not reach the same price peaks of last year, however the average price of the product may be higher in 2021. Regarding market fundamentals, Brandalizze points out to the Chinese demand for corn and the Brazilian domestic demand, also influenced by the animal feed sector. Brazilian summer crop may have losses of 5 million tons for climatic changes in Brazil’s South region. The 22 or 24 million tons produced will serve the domestic market until May, when the grain shortage is expected to return until the next off-season.
Source: Notícias Agrícolas
*Translated by Ia Niani