In 2020, corn is sold at ‘soy price’ and soy is sold at ‘beef price’ in Brazil

A 40% devaluation of the currency combined with strong demand and steady international price increases, created an unprecedented situation for Brazilian consumers. In October 2020, corn was at 2019 ‘soy price’ and soy was sold at 2019 ‘beef price’ in Brazil.

In October this year, a bag of corn was traded at around R$ 72, a value very close to the R$ 73 per bag achieved by soybeans in the same period last year. On the other hand, soybean itself this year reached a price level of R$ 170 per bag, a value similar to the R$ 171.50 applied to a single arroba of cattle a year ago.