The total volume of corn exported by Brazil between January and July 2022 grew by 85.7% over the same period of the previous year, announced the country’s National Supply Company (Conab) in its August logistical bulletin. The observed trend reflects China’s difficulty admitting approximately 10 million tonnes of grains that would typically be imported from Ukraine, in addition to pests in the country’s crops. Furthermore, due to adverse weather, European corn output predictions were cut by about five million tonnes, indicating that demand for Brazilian corn should rise. As a result, corn prices are expected to climb in domestic and international markets.
Sources: O Presente Rural/Datamar News