Corn price varies little in Brazil but falls sharply in the foreign market

Maize (Corn)
United States
Market & Price Trends
Published Feb 26, 2024

Tridge summary

Corn prices have remained stable at R$62/sc since early February, as reported by Cepea. The market is cautious with new negotiations, with buyers using stocks and sellers focusing on the summer crop harvest and the development of the second crop. Meanwhile, corn prices on the Chicago Stock Exchange have dropped significantly due to an expected ample supply from the US for the 2023/24 season and high production predictions for 2024/25. The progress of the second harvest sowing in Brazil has also contributed to the bearish movement in Chicago.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Corn prices continue to register small variations in most of the regions monitored by Cepea, with the ESALQ/BM&FBovespa Indicator (reference Campinas – SP) remaining at around R$62/sc since the beginning of February. According to Cepea researchers, agents are cautious in new negotiations; Consumers prioritize the use of stocks, and sellers remain attentive to the harvest of the summer crop and the sowing and/or development of the second crop. In the foreign market, cereal prices fell sharply on the Chicago Stock Exchange (CME Group) last week, pressured by the ample supply from the United States in the ...
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