Corn export worries sector and pressures prices

The slowdown in Brazil's corn exports has been putting pressure on domestic prices. Despite a slight increase in the international price (average of US$ 4.13/bushel in September), Brazilian corn is cheap for sellers and expensive for buyers, according to a CEEMA report. Between February and September, only 17 million tons were shipped, far below the 40 million tons predicted by Conab and the 50 million tons needed to ease stockpiles. Year-to-date, exports total 24 million tons, compared to 37 million in 2024 and the record 56 million in 2023. The average price in Rio Grande do Sul was R$ 61.91/sack, with variations between R$ 47.00 and R$ 64.00 in other regions. Buyers are stocked and withdrawn, which takes strength from the market and aggravates the imbalance. The planting of summer corn is advancing in the Center-South and reaches 32% of the planned area. The estimate is a production of 25.6 million tons in this stage, according to AgRural and StoneX. In total, domestic demand ...