IRREGULAR RAINFALL AND HIGH DOLLAR RAISE CORN PRICES OF THE SECOND HARVEST

Uncertainties regarding the development of second corn crops harvest, due to irregular rainfall and the strong appreciation of the dollar, which raised prices in the ports of Paranaguá (PR) and Santos (SP), led corn prices to rise in many places accompanied by the Center for Advanced Studies in Applied Economics (Cepea). Between April 30 and May 8, the Esalq / BM & FBovespa indicator, based in Campinas (SP), advanced 2.92%, with a 60-kg bag worth R $ 49.76 on Friday, 8. As for the dollar, from April 30 to May 8, it rose 5.52%, to R $ 5.748. Last week, farmers in second-crop producing regions in the South and Southeast were waiting for rain, but rainfall occurred only occasionally, raising concerns in the field. On the buyer side, little by little, many return to the market, but are faced with difficulties in finding large lots. In addition, the price requested by the seller is higher, and the payment period is shorter, with this, some farmers fear default, based on the current uncertainties due to the crisis generated by the coronavirus pandemic.

Source: Canal Rural