BRAZIL CONTINUES TO MASTER WORLD MARKET MARKET

Brazil continues to export corn in record way since May! Export commitments (grain already shipped plus contracts to be fulfilled) reached 29.50 million tons, against 12.85 million tons at the same time last year. The USDA projects that Brazil should export a total of 38 million tons, a historic record. The best result to date was in 2015/16, when Brazil exported a total of 34.5 million tons of corn. The most interesting fact is that the pace of ships arriving at ports (lineup) does not stop rising.
According to ARC Mercosur calculations, taking into account the movement of ships in ports, the amount of corn that will be shipped in October should be almost 5 million tons. If we take into account the high prices paid for corn and also the large amount of grain being offered, it is possible that Brazil exports even more than the 38 million tons forecast by the USDA. Brazil x USA by global domain: The United States remains the world’s leading corn exporter. However, if 38 million tons are actually exported, this figure will only be 10 million tons lower than the US total (48 million tons). This competition will intensify in the coming years, but Brazil may assume the position of largest exporter of corn on the planet in a few years (which already happened with soya). This is a problem that worries the US producer amid low productivity this year. In addition to reaping less, prices are not much better than last year. Brazil has arrived to take up US corn export demand.

Source: Canal Rural