Brazil’s June Corn Exports a Record But Still Lagging Paced Needed To Meet USDA’s Projection.
Bottom Line: Brazil’s “official” June corn exports, as reported by SECEX today , were 563,000 MT vs “shipments” of 1.055 MMT. However, SECEX’s exports were still a record and above the previous June record of 346,000 MT (in 2006). We are not concerned about the discrepancy since SECEX figures often lag actual shipments. However, we…