Corn market enters accommodation phase

The corn market is going through a period of accommodation, marked by lower volatility and the absence of clear signs of a consistent price recovery, both in the international scenario and in the Brazilian market. According to an analysis by TF Agroeconômica, the limited performance of Brazilian exports this year has reinforced the dependence of domestic prices on the international market, especially on the Chicago references, which reflect the global balance between supply and demand. In recent weeks, prices have interrupted the upward movement previously observed and have started to oscillate sideways. This behavior is repeated in the external market, where there are no factors in the short or medium term capable of sustaining a more significant appreciation. The progress of the harvests of the three largest global producers contributes to this scenario, reducing the expectation of a tightening in supply. Among the factors that offer some support to prices is the steady pace of ...