In MT, corn remains static and with a difference between buying and selling intentions

The month of April began with difficulties in the corn market in the state of Mato Grosso. According to Malu Fernandes, an analyst at Tarken, a Brazilian agritech that offers a marketplace for grain trading, there are no reported deals, and the market remains static and without harmony between buying and selling intentions.

Prices today indicate R＄72,71 in Sapezal, R＄78,15 in the capital, Cuiabá, and R＄73 in Lucas do Rio Verde. In the same cities, the soybean bag varies between R＄168 and R＄172.

“As for Safrinha, we have indications of good productivity, but lower volumes of precipitation are forecast throughout the state. In the southern region of Mato Grosso, the rains have been punctual and spaced out since the last week”, observes Malu.

In MG, falling prices lead buyers and producers to an impasse

The corn market also remains difficult in Minas Gerais. According to analyst Bernardo Lopes, although there is a drop in prices, not all producers are willing to negotiate for now, opting to stockpile as much as they can, believing in the market recovery.

Buyers, in turn, continue to bet that the drop will be even more pronounced as the weeks of April pass.

“We are experiencing an impasse between buyers and producers in Minas Gerais and it is important to closely monitor the variation in the value of the bag in the coming days, as well as the immersion in the market of buyers and sellers who are unable to stay out of the market”, explains Bernardo.

The main offers are R＄86 in the Nazareno region and R＄90 and R＄91 in São João Del Rey. The expectation is for an intensification in the corn harvest starting next week, extending until mid- May.