Brazilian corn exports remained firm in September and recorded a significant increase compared to the same period of 2018. The country shipped 6.501 million tons last month, 93.4% above the volume of 3.36 million tons sent abroad compared to August 2019, when Brazil exported 7.644 million tons, the volume was 14.9% lower. The result partly reflects the large turnover involving the second crop of 2018/2019, which was carried out in advance since last year. In Mato Grosso, before the harvest began in early April, more than 58% of the state’s production had been sold. Shipments were also driven by higher futures on the Chicago Stock Exchange (CBOT) and the appreciation of the dollar against the real in most of July and August, which helped support prices in Brazil and stimulated foreign sales. Year-to-date, Brazil exported 30.104 million tons of corn, 138.4% more than the 12.625 million tons shipped in the first nine months of 2018. Revenue from September sales reached $ 1.095 billion, compared with $ 590.5 million in the same period last year (up 85.5%). Between January and September this year, corn shipments generated total revenues of $ 5.308 billion, up 148.5% from revenues of $ 2.126 billion in the same range of 2018.

Source: Canal Rural