It was unlikely, but corn reached R $ 100 a bag 04/04/2021 – Commodities shuttle

What seemed unlikely happened. The sack of corn is being traded at R $ 100 on the B3 futures exchange. On Tuesday (6), the May contract, the closest, reached over R $ 100, and this Wednesday (7) closed at R $ 99.

The increase occurs due to uncertainties with the off-season. After a 15% reduction in the volume of the summer harvest in the South, the main producer in this period of the year, the focus is on the second harvest, the winter. This one has Mato Grosso as the main producer.

The delay in planting soybeans also caused a delay in corn. Data from Imea (Instituto Mato-Grossense de Economia Agropecuária) show that at least 45% of the corn sown in Mato Grosso in this winter harvest occurred outside the ideal period, which is until February 28th.

In some regions, such as those in the center-south and southeast of the state, the delay in planting reached 70% and 59%, respectively. Imea warns that areas sown outside the ideal time are more susceptible and are at greater climatic risks.

For Daniele Siqueira, from AgRural, the market is nervous because there are already signs of drought in regions of Paraná, São Paulo and Mato Grosso do Sul.

The delay in planting also leads to a longer delay for corn to reach the hands of consumers, which will certainly make the price reach R $ 100 per bag in the physical market.

This Wednesday’s data indicated R $ 95 in the Campinas region, according to Cepea (Center for Advanced Studies in Applied Economics), and R $ 94 in Cascavel, according to AgRural.

With the acceleration of prices, imports from Argentina, also a major producer and exporter, are viable. Argentines are expected to harvest 45 million tons this year, down from 51.5 million in the previous harvest.

The most recent estimate by Imea indicated an area of ​​5.7 million hectares destined for corn in Mato Grosso, 5% more than in the previous period. Production, on the other hand, rises to 36.3 million tons, an increase of 2.3%.

These data include an average yield of 106 bags per hectare. Any compromising climatic effect will reduce the volume.

Robust results Syngenta’s worldwide sales totaled US $ 23.1 billion last year, 5% more than in 2019. Ebitda (earnings before interest, taxes, depreciation and amortization) was US $ 4 billion, 3% more .

Animal health Boehringer Ingelheim’s worldwide animal health division also rose 5% last year. Net sales totaled 4.12 billion euros (R $ 27.6 billion).

Corn ethanol CerradinhoBio produced a record 647 million liters of ethanol last year. Of this total, 205 million came from corn, 189% more than in the previous harvest. Sugarcane ethanol, adding up to 442 million liters, had an increase of 3%.

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