The prices of corn have jumped eight percent last week in Brazil, according to the Center of Advances Studies on Applied Economics (Cepea). The value has reached R$ 47,39 per bag of 60 kilograms last Friday. Considering the whole month, the value of corn jumped 14.8 percent. More sales happened because of a possibility of a worse scenario in the next months.
The value of soybeans has dropped US$ 42 per tons in the month of July alone in Argentina. And this is significant news because there are approximately 28.6 million metric of stored in the country, though the volatily is normal for this time of the year. There is calculation of a total loss of US$ 1.2 billion considering this devaluation.
According to a report from the Mato Grosso Institute of Agricultural Economics (Imea), the harvest of the second corn crop in the Brazilian state of Mato Grosso has reached 67 percent of the total planted surface. The Works are faster than the previous year. By the same week of 2015, the harvest was at 62.9 percent of the área.
The corn harvest in the Brazilian state of Mato Grosso has reached 50.6 percent of the total surface, according to Mato Grosso Institute of Agricultural Economics (Imea). The works have advanced 13.25 percentage points comparing to the previous week, but now the harvest is faster comparing to last year, when 42.52 percent of the crop was harvested.
The Rosario Board of Trade has reduced its projection for wheat planting in Argentina to 11.1 million acres. The forecast has shrank in 617,763 acres comparing to the last month. The change was because of the excess of rain in some areas of the provinces of Córdoba and Santa Fe. At the moment, the planting has reached 65 percent of what now is expected to be planted. Another major thing is that the planting in the province of Buenos Aires, the major wheat producing province, with a delay of 30 percentage points comparing to previous years due to high moisture.
By Luís Vieira
BUENOS AIRES, Argentina — A surprising strike is expected to shake the corn and soybean market, for the next days. The Argentine Confederation of Automotive Transportation of Cargo has promised to block major ports like Buenos Aires and Santa Fe. If it is not successful, it promises to block major grain export ports in the country like the ports of Rosario, Bahia Blanca and Necochea.
Already, protests are occurring at export ports. On Thursday, the striking group announced it will begin blocking major grain ports on Tuesday morning.
According to numbers from yesterday’s USDA report, Argentina will export 19 million metric tons of corn during the 2015/2016 season. The previous report had forecast that the country would export 18 million metric tons and Brazil would ship 22.5 million metric tons of the cereal – but now the USDA foresees that Brazilians would export just 18.5 million metric tons.
For the next season, according to the USDA, the exportable corn of Argentina would be 23 million metric tons through an output of 34 million metric tons. In the case of Brazil, production in 2016/2017 would be 80 million metric tons with exports of 22 million metric tons.
Wheat exports from Argentina usually go from there to Brazil and Bolivia. Due to the high costs of transportation, exports are not the most profitable business, but now the mills are hopeful to revert the trend and to win new markets. The president of the Argentine Federation of the Mill Industries, Diego Cifarelli, traveled to Panamá along with other businessmen to establish new links in the country and the region.
“There is a strong work of our ambassador Miguel del Sel to oil the bilateral relations, and though it is not a big country with just five million inhabitants, they want our wheat and there are possibilities,” Cifarelli told Buenos Aires newspaper Ámbito Financiero. Additional export of nearly 1.5 million metric would be sufficient to create 4,500 new jobs in Argentina.
The exports of grains in Argentina have reached US$ 449.6 million last week, which is 40 percent lower than the amount registered five days before. The data is from the Center of Cereal Expoters. Analysts blame a stronger dollar and the holiday in the United States for the weaker sale.
Once again, rains have interrupted the soybean harvest in Argentina. Right now, the harvest has reached 97.1 percent of the total surface and a delay of 2.9 percentage points comparing to the average of the previous years. The total volume harvested so far is 54.9 million metric tons and the forecast of total output would be 56 million metric tons, according to Argentina’s Ministry of Agriculture. The last region to finish the harvest, and will not finish by next week, will be the southeast of the province of Buenos Aires.