Commodity brokers fretting over broken corn export contracts
Truck freight charges to carry corn increased by 20%, or 50 reais ($9.40) per tonne, as a result of the protests over Brazil’s election outcome that clogged roads in Mato Grosso state earlier this week, Abiove, an industry association representing global trading firms, told Reuters on Thursday.
Abiove President Andre Nassar indicated over the phone that the Sorriso-Miritituba and Sinop-Miritituba routes have been hit the hardest. As a result of the road blockades, Nassar added, some Abiove members were worried about being unable to fulfil maize export obligations.