Brazil corn exports down 30 percent on-year in March

Brazil's corn exports in March fell 30 percent on-year, according to preliminary figures from the Foreign Trade Secretariat (Secex).

The recovery of world prices has held back business by only 451,900 tonnes, said Paulo Molinari from Safras & Mercado.

Traders have been offering corn at a US$10 per tonne discount at export, but prices are now even or more expensive in some cases, he said.

Exports have also declined due to expectations about the US and Argentina crops, and to a possible increase in world corn prices.

So far, only 2.3 million tonnes of corn from the 2009 mid-crop have been sold.