Brazil supplies extra credit for maize growers
Brazilian authorities are extending special credit lines to entice growers to plant maize, official news agency Agencia Brasil reports. High prices for soybeans have led to predictions that planting of the crop is to rise by 3 million ha this year ( Agrow No 645, p 16), impacting on maize planting, which directly competes with soybeans. The authorities are concerned that maize prices will rise further if acreage is lost and impact pig farmers. Although maize prices are up strongly this year, soybean prices have risen even further. The national monetary council, the CMN, is raising the amount of credit available by 60% for maize and sorghum.