SAO PAULO, Brazil (DTN) -- Brazilian corn farmers are stressed.
Last year, they enjoyed handsome margins on their bumper second-crop corn, but the outlook is very different this season.
With the harvest nearly 40% complete, the second crop looks to be even bigger than last year -- at around 45 million metric tons (mmt) in the center-south compared with 38 mmt -- but prices are much lower.
The situation is most dramatic in Mato Grosso, Brazil's biggest grain state, where the costs of the country's logistical shortcomings are most pronounced.
Corn was quoted at 8.80 Brazilian reals per 60-kg bag ...