BRAZILIAN CORN EXPORTS INCREASE IN DECEMBER

Shipments of Brazilian corn abroad intensified in the first two weeks of December. According to Scot Consultoria, about 231.1K tons per day were shipped up to the second week, exceeding the daily average of 15.6% in November and 15.7% in December 2017. With the slowdown in the second half of the month, Scot forecasts a cumulative near 4 million tons throughout December. “If this volume is confirmed, in the total of 2018 Brazil will have exported 23.9 million tons of corn, 18.3% less than the 29.3 million tons shipped in 2017,” the consultancy said, based on data from the Ministry of Industry, Foreign Trade and Services (MDIC). By 2019, Scot sees a scenario favorable to foreign sales of the cereal, with the prices “more competitive of Brazilian corn in the international market” and the strong dollar against the real, which favors the negotiations of commodities produced in the country. “These are factors that should drive the growth of national exports”, he said in a statement. The consultancy recalled that the National Supply Company (Conab) estimates Brazilian exports of corn of 31 million tons in the 2018/2019 season.
Source: Canal Rural