Iran’s corn need key as Brazil’s export, import flow up-ended | MED-Amin network |

By AgriCensus, 20/02/2019 - Brazil’s position as one of the few exporters prepared to run the gamut of US sanctions and supply corn to Iran is helping to upend the country’s export dynamics, as geopolitics, trade fears and economics sees southern states exchange Brazilian corn for Argentine imports.

“The crazy thing is that ports in the states of Rio Grande do Sul and Santa Catarina are exporting corn this month – this is not normal at all,” one market source told Agricensus.

The news comes as the same states – which are home to a significant chunk of Brazil’s livestock sector – have imported corn from Argentina in recent days, in a move that often reflects Brazil’s high domestic prices and poor internal supply logistics.

“The state of Santa Catarina normally buys some corn from Argentina and Paraguay because those countries are close, because Santa Catarina needs more corn than it is able to grow and because it’s cheaper to buy corn from those countries,” Agrural’s Daniele Siqueira told Agricensus.

Which is where geopolitics kicks in – Iran has been increasingly reliant upon Brazilian corn supply since US president Donald Trump re-imposed sanctions on the country in December 2018...