N

6404

TELE

02/07/2014

INFORMATION AND OUTLOOK

FOR DOMESTIC AND FOREIGN MARKETS

This newsletter must be available for subscribers at up to 11:00 AM (Braslia time). Otherwise call 0055 (51) 3290-9200.

P RIC E S - R$/B A G S 60 K G

1 - IN T E R N A L M A R K E T P R IC E S
P L AC E S
S P - T IE T C IF
- C A M P IN A S C IF
- IT U C IF
- S . C A R L O S C IF
- B O T U C A T U C IF
- M O G IA N A
- G U A R A
- VO T UP O R ANG A
- P E D R IN H A S
- C . MO T A
- IT A P E V A
- P AR ANAP ANE MA
- S .J .R . P R E T O
- S . C AR L O S + IC M S
- S P C IF + IC M S
- C IF S AN T O S ( T R AN S F )
G O - R .V E R D E
- JAT AI
- M O N T IV ID IU
- G O I N IA
- M IN E IR O S
- C HA. D O C U
- AC R E UNA
- C R IS T A L IN A
M S - D O U R AD O S
- C HA. D O S UL
- S . G A B R IE L
M G - U B E R L N D IA
- P A R D E M IN A S
- UB E R AB A
- P A T R O C N IO
- S . G O T AR D O
- IR A D E M IN A S
- UNA
- ALF E NAS
- IT A H A N D U
P R C .M O U R O
- C AS C AVE L
- M A R IN G
- P .G R O S S A
- G UAR AP UAVA
- P . B R ANC O
- L O N D R IN A
- S E R T A N P O L IS
- C IF P G U A ( T R AN S F )
S C V ID E IR A
- C HAP E C
- C O N C R D IA
- C .N O V O S
- C A N O IN H A S
- MAF R A
- O E S T E C IF + IC M S
- P A R A G U A I C IF U S $ N
R S E R E C H IM
- C A R A ZIN H O
- P AS S O F UND O
- R S C IF
- C R UZ ALT A
- P ANAMB I
M T -R O N D O N P .
- LUC AS R . VE R D E
- S O R R IS O
- C . NO VO P .
- C AMP O VE R D E
- S A P E ZA L
M D IA D O D IA
B A - B AR R E IR AS
C E - F O R T AL E ZA
P AR AG U AI F O B ( N )

P R E V IO U S 1 M O N T H 1 Y E AR
BUYER
2 4 ,5 0
2 4 ,7 0
2 4 ,5 0
2 4 ,0 0
2 4 ,3 0
2 2 ,7 0
2 2 ,5 0
2 2 ,0 0
2 2 ,0 0
2 2 ,0 0
2 2 ,0 0
2 2 ,3 0
2 2 ,0 0
2 2 ,7 0
2 3 ,3 0
2 4 ,8 0
1 8 ,0 0
1 7 ,5 0
1 7 ,5 0
1 9 ,0 0
1 7 ,5 0
1 7 ,0 0
1 8 ,5 0
1 8 ,5 0
1 8 ,0 0
1 9 ,0 0
1 8 ,5 0
2 2 ,5 0
2 6 ,0 0
2 2 ,0 0
2 2 ,0 0
2 3 ,0 0
2 2 ,5 0
2 1 ,0 0
2 4 ,5 0
2 6 ,0 0
2 1 ,5 0
1 9 ,5 0
2 2 ,0 0
2 3 ,0 0
2 2 ,0 0
2 3 ,0 0
2 1 ,5 0
2 1 ,0 0
2 4 ,8 0
2 5 ,5 0
2 5 ,0 0
2 5 ,0 0
2 5 ,5 0
2 5 ,0 0
2 5 ,0 0
2 3 ,0 0
1 6 0 ,0 0
2 5 ,0 0
2 5 ,0 0
2 5 ,0 0
2 7 ,5 0
2 4 ,5 0
2 5 ,0 0
1 4 ,5 0
1 2 ,0 0
1 1 ,5 0
1 1 ,5 0
1 3 ,5 0
1 1 ,0 0
2 1 ,8 6
2 0 ,5 0
3 0 ,0 0
1 2 0 ,0

SELLER
2 4 ,7 0
2 5 ,0 0
2 5 ,0 0
2 4 ,8 0
2 4 ,8 0
2 3 ,0 0
2 3 ,0 0
2 2 ,5 0
2 2 ,5 0
2 2 ,5 0
2 2 ,5 0
2 2 ,7 0
2 2 ,7 0
2 3 ,3 0
2 4 ,0 0
2 5 ,8 0
1 8 ,5 0
1 8 ,0 0
1 8 ,0 0
2 0 ,0 0
1 8 ,0 0
1 8 ,0 0
1 9 ,0 0
1 9 ,5 0
1 8 ,7 0
2 0 ,0 0
1 9 ,5 0
2 3 ,0 0
2 7 ,0 0
2 3 ,0 0
2 3 ,0 0
2 4 ,0 0
2 3 ,5 0
2 2 ,0 0
2 5 ,5 0
2 7 ,0 0
2 2 ,5 0
2 0 ,5 0
2 3 ,0 0
2 4 ,5 0
2 3 ,0 0
2 3 ,5 0
2 2 ,5 0
2 2 ,5 0
2 6 ,0 0
2 6 ,0 0
2 6 ,0 0
2 6 ,0 0
2 6 ,0 0
2 5 ,5 0
2 5 ,5 0
2 4 ,0 0
1 7 5 ,0 0
2 6 ,0 0
2 6 ,0 0
2 6 ,0 0
2 8 ,0 0
2 6 ,0 0
2 6 ,0 0
1 5 ,0 0
1 3 ,0 0
1 2 ,0 0
1 2 ,0 0
1 4 ,0 0
1 2 ,0 0
2 2 ,6 5
2 1 ,0 0
3 1 ,0 0
1 3 0 ,0

2 - IN T E R N A L M A R K E T - S O R G H U N

US$
1 1 ,2 0
1 1 ,3 4
1 1 ,3 4
1 1 ,2 5
1 1 ,2 5
1 0 ,3 0
1 0 ,4 3
1 0 ,2 1
1 0 ,2 1
1 0 ,2 1
1 0 ,2 1
1 0 ,3 0
1 0 ,3 0
1 0 ,5 7
1 0 ,8 9
1 1 ,7 0
8 ,3 9
8 ,1 6
8 ,1 6
9 ,0 7
8 ,1 6
8 ,1 6
8 ,6 2
8 ,8 4
8 ,4 8
9 ,0 7
8 ,8 4
1 0 ,4 3
1 2 ,2 5
1 0 ,4 3
1 0 ,4 3
1 0 ,8 9
1 0 ,6 6
9 ,9 8
1 1 ,5 7
1 2 ,2 5
1 0 ,2 1
9 ,3 0
1 0 ,4 3
1 0 ,4 3
1 0 ,4 3
1 0 ,6 6
1 0 ,2 1
1 0 ,2 1
1 1 ,2 5
1 1 ,7 9
1 1 ,7 9
1 1 ,7 9
1 1 ,7 9
1 1 ,5 7
1 1 ,5 7
1 0 ,8 9
1 6 0 ,0 0
1 1 ,7 9
1 1 ,7 9
1 1 ,7 9
1 2 ,7 0
1 1 ,7 9
1 1 ,7 9
6 ,8 0
5 ,4 4
5 ,2 2
5 ,2 2
6 ,1 2
4 ,9 9
9 ,9 1
9 ,3 0
1 3 ,6 1
1 2 0 ,0

S P - M O G IAN A
S P - B AR R E T O S
S P - G U AIR A
G O - J AT AI
G O - M IN E IR O S
M S - C. DO SUL
M G - C O N C E I O
M G - C O L O M B IA
M G - U N AI
M T - P. D O LEST E
M T - L U C AS R . V .
P R - P G U A (N )
( N ) N O M IN AL

SELLER
1 9 ,0 0
1 9 ,0 0
1 9 ,0 0
1 4 ,0 0
1 4 ,0 0
1 4 ,5 0
1 8 ,0 0
1 8 ,0 0
1 6 ,0 0
1 0 ,0 0
1 0 ,0 0
1 5 ,0 0

R$
2 8 ,5 0
2 9 ,0 0
2 8 ,5 0
2 8 ,0 0
2 8 ,0 0
2 6 ,5 0
2 6 ,0 0
2 5 ,0 0
2 6 ,0 0
2 6 ,0 0
2 6 ,0 0
2 6 ,5 0
2 5 ,5 0
2 6 ,5 0
2 7 ,0 0
2 8 ,5 0
2 4 ,0 0
2 4 ,0 0
2 3 ,0 0
2 4 ,5 0
2 3 ,5 0
2 2 ,0 0
2 4 ,0 0
2 3 ,5 0
2 2 ,0 0
2 3 ,0 0
2 2 ,5 0
2 5 ,5 0
2 8 ,5 0
2 5 ,0 0
2 5 ,0 0
2 5 ,5 0
2 5 ,5 0
2 5 ,0 0
2 8 ,0 0
3 0 ,0 0
2 4 ,5 0
2 4 ,0 0
2 4 ,0 0
2 6 ,0 0
2 5 ,0 0
2 5 ,5 0
2 4 ,0 0
2 4 ,0 0
2 8 ,0 0
2 7 ,5 0
2 7 ,0 0
2 7 ,5 0
2 7 ,0 0
2 7 ,0 0
2 7 ,0 0
2 7 ,0 0
1 9 5 ,0 0
2 7 ,0 0
2 7 ,0 0
2 7 ,0 0
2 9 ,0 0
2 7 ,0 0
2 7 ,0 0
1 8 ,5 0
1 6 ,0 0
1 5 ,5 0
1 5 ,5 0
1 7 ,0 0
1 5 ,0 0
2 4 ,9 8
2 3 ,0 0
3 4 ,0 0
1 5 0 ,0

R$
2 6 ,0 0
2 6 ,5 0
2 6 ,0 0
2 5 ,5 0
2 6 ,0 0
2 4 ,0 0
2 4 ,0 0
2 3 ,0 0
2 4 ,0 0
2 4 ,0 0
2 4 ,0 0
2 4 ,0 0
2 2 ,5 0
2 3 ,5 0
2 4 ,0 0
2 8 ,2 0
2 0 ,0 0
1 9 ,5 0
1 9 ,5 0
2 2 ,0 0
1 9 ,5 0
1 8 ,0 0
2 1 ,0 0
2 1 ,5 0
2 3 ,0 0
1 8 ,5 0
1 8 ,5 0
2 3 ,5 0
2 6 ,0 0
2 3 ,5 0
2 3 ,0 0
2 3 ,0 0
2 3 ,0 0
2 2 ,0 0
2 6 ,0 0
2 6 ,5 0
2 4 ,5 0
2 4 ,5 0
2 4 ,5 0
2 6 ,0 0
2 5 ,5 0
2 7 ,0 0
2 5 ,0 0
2 5 ,0 0
2 7 ,5 0
2 7 ,0 0
2 7 ,0 0
2 7 ,0 0
2 6 ,0 0
2 6 ,0 0
2 6 ,0 0
2 6 ,7 0
2 2 0 ,0 0
2 8 ,0 0
2 8 ,5 0
2 8 ,5 0
3 0 ,0 0
2 8 ,0 0
2 8 ,0 0
1 6 ,0 0
1 1 ,5 0
1 1 ,3 0
1 1 ,3 0
1 5 ,5 0
1 1 ,0 0
2 3 ,2 9
2 3 ,7 0
3 3 ,0 0
1 4 5 ,0

P R IC E S - R $ / B G S 6 0 K G

P L AC E S ( n o m in a l)
BUYER
1 6 ,0 0
1 6 ,0 0
1 6 ,0 0
1 3 ,0 0
1 3 ,0 0
1 3 ,0 0
1 7 ,0 0
1 7 ,0 0
1 5 ,0 0
9 ,0 0
9 ,0 0
1 3 ,0 0

US$
1 1 ,2 2
1 1 ,4 4
1 1 ,2 6
1 1 ,2 6
1 1 ,2 6
1 0 ,3 1
1 0 ,4 5
1 0 ,3 5
1 0 ,4 5
1 0 ,4 5
1 0 ,4 5
1 0 ,5 8
1 0 ,3 1
1 0 ,5 8
1 0 ,9 0
1 1 ,8 1
8 ,6 3
8 ,4 0
8 ,4 0
9 ,0 8
8 ,1 7
8 ,1 7
8 ,8 6
8 ,8 6
8 ,4 9
9 ,0 8
8 ,8 6
1 0 ,4 5
1 2 ,2 6
1 0 ,4 5
1 0 ,4 5
1 0 ,9 0
1 0 ,6 7
9 ,9 9
1 1 ,5 8
1 2 ,2 6
1 0 ,4 5
9 ,7 6
1 0 ,4 5
1 0 ,6 7
1 0 ,6 7
1 0 ,9 0
1 0 ,4 5
1 0 ,4 5
1 1 ,2 6
1 1 ,8 1
1 1 ,8 1
1 1 ,8 1
1 1 ,8 1
1 1 ,5 8
1 1 ,5 8
1 1 ,1 3
1 6 5 ,0 0
1 1 ,8 1
1 1 ,8 1
1 1 ,8 1
1 2 ,7 2
1 1 ,8 1
1 1 ,8 1
7 ,0 4
5 ,6 8
5 ,4 5
5 ,4 5
6 ,3 6
5 ,4 5
1 0 ,0 0
9 ,3 1
1 3 ,6 2
1 2 0 ,0

US$
7 ,2 6
7 ,2 6
7 ,2 6
5 ,9 0
5 ,9 0
5 ,9 0
7 ,7 1
7 ,7 1
6 ,8 0
4 ,0 8
4 ,0 8
5 ,9 0

P r e v io u
US$
7 ,2 8
7 ,2 8
7 ,2 8
6 ,3 7
6 ,3 7
6 ,3 7
7 ,7 4
7 ,7 4
7 ,2 8
4 ,1 0
4 ,1 0
5 ,9 2

1mon
US$
8 ,2 4
8 ,2 4
8 ,2 4
6 ,4 1
6 ,4 1
6 ,8 7
8 ,2 4
8 ,2 4
6 ,4 1
4 ,1 2
3 ,2 0
5 ,0 4

Y e ar
US$
8 ,1 0
8 ,1 0
8 ,1 0
6 ,3 0
6 ,3 0
6 ,7 5
8 ,1 0
8 ,1 0
6 ,3 0
4 ,0 5
3 ,1 5
4 ,9 5

COMMENTS: Market with no trades reported. In the

west, in the morning some small lots traded at R$
21/20.50. Later offers R$ 20.50/21 and buyers for major
volumes below R$ 20. North still with slow harvest and
offers at R$ 22.50/23 depending on location. Region of
P. Grossa with asks at R$ 24.50/25 and bids at R$ 23. In
MS, offers at 18/18.50 in the southern state, buyers at
R$ 17.50. Indications at the port only for immediate lots,
at R$ 24.50/24.80. No indications for Aug/September.
Maringa with offers at R$ 21 and R$ 22.50/23 on wagon.
Light showers must reach the west by the weekend.
In MT, lower prices this week in the state. Offers in Lucas
at R$ 12.50, in Sorriso R$ 12, Nova Mutum R$ 12.70,
Diamantino R$ 13, C. Verde R$ 14. Trading companies
with prices well below these levels. The harvest
progresses in all regions.
In RS, the market remains sluggish. Asks at R$ 26 well
located, and buyers try R$ 24.50/25. Business does not
advance. CIF ideas at R$ 27 and offers at R$ 28. In SC,
the same profile. Local offers for ICMS free corn at R$
25.50/26 levels and small buying interest. Taxed corn
with buyers at R$ 23 CIF and offers over R$ 24.
In SP, larger buyers believe they will have abundant
supply in July from other states and do not try to absorb
larger volumes in the short term. The harvest is starting
in some localities of SP and summer corn begins also to
make room for the second season. Then pressure
continues. Itu business today with 900 tons at R$ 25 CIF
with pay in 35 days. Business with corn from other
states at R$ 23.50 in Campinas region. Offers in
Sorocabana at R$ 22.50 for small volume, buyers at R$
22 with long-term pay. Upstate offers at R$ 22/23, but no
buyers. With 24.50/24.80 in Santos for exports,
indications at R$ 19.50/20 in the countryside of SP.
In GO, the harvest continues. Some traders indicated
between R$ 15/16 in the south west of the state for
physical corn. Buyers of the internal market keep
indicating R$ 17.50/18 depending on location. Business
in the region of Jatai/Rio Verde with nearly 8000 tons in
several batches at R$ 17.50. Sorghum at R$ 14 with
demand only for feedlot.
In MG, market at a halt. Offers below R$ 23 in Triangulo.
However, buyers are absent or bidding at most R$ 22 in
the region. Sorghum with offers at R$ 18 with no buyers.
Offers from outside of the state at R$ 22.50/23 CIF plus
ICMS Uberlndia/Uberaba.

Acesse:
www.safras.com.br
Para maiores informaes sobre
palestras e eventos

No part of this report may be reproduced or transmitted in any form by any means without the written consent of Safras & Mercado. Editor: Dylan Della Pasqua.

6404

TELE

02/07/2014

INFORMATION AND OUTLOOK

FOR DOMESTIC AND FOREIGN MARKETS

This newsletter must be available for subscribers at up to 11:00 AM (Braslia time). Otherwise call 0055 (51) 3290-9200.

R$/bg

3 - BM&F CORN FUTURES

MONTHS
JLY/14
SEP/14
NOV/14
JAN/15
MAR/15
SUPORT

CLOSE
24,39
23,40
24,05
25,15
24,34

MAX
24,45
23,80
24,50
25,51
RES.

MIN
24,35
23,35
24,05
25,15
24,44

P R E V IO U S E X C H A N G E

24,60
23,82
24,49
25,64
-

2,2420
2,2780
2,3120
2,3950
-

US$
10,88
10,27
10,40
10,50
-

4 - CM E CHICAGO - Cents/bushel

MONTH
JLY/14
SEP/14
DEC/14
MAR/15
MAY/15

CLOSE
422,75
416,00
422,75
434,25
441,50

CBOT US$/ton

5 - FOB PORTS - US$/T

MAX
423,75
418,50
424,75
436,00
443,25
166,43

Min
416,00
410,25
417,00
428,25
435,75

P R E V IO U S

424,25
418,75
425,25
436,25
443,50

ARGENT. GOLFO BRAZIL Previous

JUN/14
JLY/14
AUG/14
SEP/14
OCT/14
NOV/14
DEC/14
JAN/15
MAR/15
SORGUN FOB
REFERENCE FOB GOLFO SPOT

196,00
195,00
194,00
194,00
195,00
195,00
198,00
198,00
198,00
155,00

190,44
188,18
189,36
192,02
192,02
192,02
196,54
196,54
196,54

193,99
191,33
189,36
190,05
190,05
190,05
194,58
194,58
194,58
160,00

US$/TON

198,51
196,35
190,44
193,00
191,03
191,03
195,36
195,36
195,36
165,00
190,44

US$/BG

R$/BG

BM&F - FUTURES MARKET

On the BM&F the market keeps adjusting to the market
reality. Pressure from the second season harvest,
lower foreign prices, thin export commitments, and
stable exchange rate pressure domestic prices. With
Santos at R$ 24.50, export could pay R$ 19.50 in
Sorocaba in Sao Paulo, which would drive Campinas
to R$ 22. This is the low of the September 2013
contract. The difference is that in 2013 Brazil had
strong international demand, low inventories in the
U.S., strong commitment for future shipments of 3
million tons/month. The situation is quite different in
2014. So the contracts for September and November
remain pressured at this beginning harvest.
FOREIGN MARKET:
On the CBOT, the market had a day of consolidation of
the week's lows. With pollination beginning, the
market is always caution about new heavy lows since
July is a key month for production. Moreover, prices
have reached the low of 2013 and must now confirm
the strong potential for productivity to try to breach
$4.00/bushel for December. Demand indicators such
as ethanol and exports remain as factors that attempt
to inhibit the downward pressure in the coming weeks
as there are few negative indicators of weather until
now. With good pollination, analysts may start
estimating potential yields above 170 bushels/acre for
this crop in the USA. Holiday in the U.S. on Friday
shortens the week. The expectation is maintenance or
improvement in crop conditions next Monday.

6 - COST OF IMP/EXP REFERENCE

IMPORT - CIF INDUSTRY

IMP. EUA - BR
IMP. ARG - BR
IMP. ARG - BR

15,17
14,98
15,52

MAY
MAY
JUN

33,46
33,02
34,22

EXPORT - PRICE IN PORTS

EXPORT. PARANAGUA
EXPORT. PGUA
EXPORT. PGUA
EXPORT. PGUA
EXPORT. PGUA
EXPORT. PGUA
EXPORT. PGUA

11,04
10,88
10,76
10,80
10,80
10,80
11,07

24,55
24,39
24,28
24,61
25,04
24,98
25,60

EXPORT. PGUA

11,07

MAY
JUN
JLY
AUG
SEP
OCT
NOV
DEC

25,60

7 - LIFFE - EUROPE - CORN

AUGUST/14
NOVEMBER/14
JANUARY/15
MARCH/15
JUNE/15
Cot. LIFFE equiv. a US$

EUROS/TON

CLOSE

MAX

MIN

PREV

170,00
171,75
173,25
175,25
178,00

173,00
173,25
174,25
176,25
179,25
232,53

170,00
171,50
173,25
175,00
178,00

172,50
173,25
174,25
176,50
179,00

8 - INDICE BM&F/ESALQ- MILHO

GULF AND BRAZIL BARGE BAS IS :

G olfo
M ONT H
Jun/14
Jly/14
Aug/14
S e p/14
Oct/14
Nov/14

Ce nts/bu
61,00
62,00
65,00
65,00
65,00
65,00

US $/ton
24,01
24,41
25,59
25,59
25,59
25,59

B raz il
Ce nts/bu
U S$/ton
70,00
70,00
65,00
60,00
60,00
60,00

27,56
27,56
25,59
23,62
23,62
23,62

DATA
25/JUN
26/JUN
27/JUN
30/JUN
01/JLY

Prazo
25,80
25,50
25,50
25,47

24,77
(OBS) media of last three quotes

R$/BG
A vista
25,48
25,18
25,16
25,16

Media
25,64
25,39
25,27
25,17

24,46

24,93

No part of this report may be reproduced or transmitted in any form by any means without the written consent of Safras & Mercado. Editor: Dylan Della Pasqua.

6404

02/07/2014

TELE

INFORMATION AND OUTLOOK

FOR DOMESTIC AND FOREIGN MARKETS

This newsletter must be available for subscribers at up to 11:00 AM (Braslia time). Otherwise call 0055 (51) 3290-9200.

USA - FORECAST 6-10 DAYS

CLIMATE: 03/07/2014: In the south and north end of RS, south

and west of SC, and southwestern PR: sun and a few clouds. In
RS: Variable cloudiness and isolated showers. In other areas of
the region: predominance of sun. Mild temperature.
07/03/2014: In the east of MG and ES: sun between clouds. In
other areas of the region: predominance of sun.
07/03/2014: In all areas of the Midwest region: predominance of
sun. Stable temperature

8. FINANCIAL INDICATORS

SOUTH AMERICA RAINS 24 HS:

DO LAR PT AX850
DO LAR FUT URES AUG
SEPT EM BER
O CT O BER
NO VEM BER
DECEM BER
JANUARY
FEBRUARY
M ARCH
DO LAR T O URISM
PESO /ARG
CDI O VER - CET IP
EURO /US$

2,2048
2,2054
2,2235
2,2420
2,2560
2,2780
2,3180
2,3120
2,3120
2,3950
2,1100
2,3500
8,1325
8,1350
0,0407 % aom s
1,3678

BRAZIL TRIMESTRAL FORECAST :

BR SHORT FORECAST

BRAZIL - SOIL MOISTURE : 06/30/2014

This report was prepared by SAFRAS & MERCADO for exclusive use of its clients. Any full or partial reproduction is prohibited, in any form, except with prior written permission. This report is distributed solely with the purpose of providing
information and does not represent, in any event, indication, suggestion, or buy or sell offer of any financial instrument or service. The information contained in this report is obtained from reliable market sources on the date this report is
published, but SAFRAS & MERCADO does not guarantee that the information contained here is free of errors from primary sources. The views contained in this report are mere market assessments and estimates, so they are subject to changes
and do not mean any recommendation at all.