The Government of Brazil announced in late April the sale of 1 million tonnes of maize from its state reserves through auctions. The measure aims to support livestock producers, amidst high domestic prices of yellow maize, above the threshold price of BRL 19.95 (USD 5.54) per 60 kg-bag in the State of Mato Grosso set by the Government for the release of stocks. Two auctions of up to 200 000 tonnes have already been held and a new one was announced. Domestic prices of yellow maize have been increasing since late 2017 and reached in April 2018 levels nearly 40 percent above those a year earlier. The increase in prices was supported by the large volumes exported in the 2017/18 season, concluded in February. Further upward pressure was provided by a reduced first season crop; concerns over the main season output, following a reduction in plantings and dry weather affecting crops and by the recent weakening of the local currency.