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

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.

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.

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.