SAO PAULO - Brazil's Agriculture Ministry will suspend an auction of 500,000 tonnes of corn from public stocks announced earlier this month as prices cede, said a press official answering a request for an update on the auction status sent by Reuters.
Brazil corn prices fell almost 25 percent in the past month as the second corn crop advances with no additional problems after a drought in April cut output. Market players have canceled export deals to sell the grain at better prices in the local market, contributing to more supplies.
