Mayor buyer interest keeps corn prices high

Corn prices continued to rise in the domestic market last week, with the Esalq/BM&FBovespa Indicator approaching R$ 70/sack of 60 kg. A nominal level not reached since May/25. According to a survey by Cepea, the boost came mainly from increased interest from buyers combined with a pullback from sellers. Producers are focused on sowing and attentive to the development of the crop. In some regions, according to the research center, farmers are concerned about the hot weather, while in others, they are worried about the impacts of the rains in mid-November. In this context, agents are limiting the lots made available in the spot market, waiting for further appreciation. On the demand side, Cepea researchers explain that buyers are looking to replenish stocks for the end of the year and the beginning of the next, but they are encountering higher prices asked by sellers. Some buyers ...