Brazilian market continues with firm corn prices

Buying actions by domestic consumers, still important export flows, retention by growers, and a bullish sentiment help the domestic corn market to find room for new highs. Last week, prices in Mato Grosso jumped to BRL 55, in some locations they were even higher, with Paraná at BRL 66/67/68 and São Paulo at BRL 70/71 in the interior. A quick and somewhat premature high for Brazilian corn, which does not indicate a shortage, but rather a grower’s parsimony in trading. That also reflects the still favorable export demand for the business year profile, as well as a seemingly unconcerned attitude of consumers regarding stocks in the post-harvest of the second crop. Fortunately, even with a heavy reduction in area during the summer, the Brazilian crop continues to develop well, not posing a risk of losses for the small production in the first half of 2025. The domestic market has positioned itself with a more aggressive buying movement by exporters since the end of the second-crop ...