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Recovery of Grain Prices Enhanced

14 June 2013

BRAZIL - Corn prices are up due to increased domestic demand and the appreciation of the dollar, which raises the export balance, influencing sellers to ask for higher prices.

According to Cepea, the high dollar value has reduced the cost of corn for importers.

Another factor favouring internal support is government intervention.

In the first auction sale option held on Tuesday, 4 June, there was interest to all 17,780 contracts offered by Conab ( Brazil's National Supply Company) to Mato Grosso. 

TheCropSite News Desk

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