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Insufficient storage space, Mato Grosso farmers sell corn at low prices

by Joy

On June 16, according to media reports, farmers in Mato Grosso, Brazil, have sold 44% of the expected second-crop corn production in 2022/23, and the sales ratio increased by 6% in May.

Second crop corn, which is sown after the soybean crop is harvested, accounts for about 76 percent of Brazil’s total corn production.

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Harvest of the second crop of corn in Mato Grosso state has just started, and lack of storage space may force farmers to sell corn at unfavorable prices.

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With farmers still holding on to a large 2022/23 soybean crop, a lot of warehouse capacity is being taken up.

For the 2023/24 corn crop, state farmers have pre-sold 3.7% of their expected production, up just 0.6% from April, due to low prices.

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