Corn Prices in Brazil Decline 14.78% YoY in November Due to Record Corn Production Forecast

Maize prices in Brazil dropped 14.78% YoY to USD 0.36/kg in Nov-23, marking the lowest price level for the year. This decline aligns with Brazil's anticipation of a record-breaking safrinha corn harvest at a 4,030 million-bushel yield for the 2023/24 season, contributing to an 11% increase over the previous year and intensifying competition with the US in corn exports.