November 16, 2007

Brazil assures corn stocks enough until harvest

The Brazilian Agriculture Ministry on Wednesday (November 14) that corn stocks are enough to last through to January, when harvesting will start.

According to the National Commodities Corporation (Conab), carry-over stocks are pegged at 6.7 million tonnes. 

The government has been auctioning corn from its stocks to regions where the supply is shorter.

The government forecasts the 2007/08 corn first crop at 37.3 million tonnes, against 36.6 million tonnes in 2006/07.