BRAZIL CORN WATCH: Export sluggish on tight supply amid rising spot prices
Corn exports from Brazil have remained slow so far in July as harvesting delays and a smaller crop yield in 2020-21 turned suppliers cautious about making new sales.
Brazil corn exports during the first 12 business days of July stood at 523,906 mt, at a daily rate of 43,659 mt, against a daily rate of 173,010 mt in the whole of July 2020, customs department data showed.
Producers continue to limit the supply of corn in the spot market and prioritize deliveries of lots negotiated in advance, the Brazil-based Center for Advanced Studies on Applied Economics (CEPEA) said in a note.