Corn continues to fall with projections of high supply

Cepea surveys show that corn prices continue to fall.

According to the Research Center, good weather conditions during the development of the second harvest in Brazil reinforce expectations of large production in the 2024/25 season and, consequently, pressure on prices.

Last week, Conab reported positive adjustments in harvest estimates. Brazilian production is projected at 128.25 million tons, 1.37 million tons above the May estimate.

For the second harvest, the volume should reach 101 million tons, compared to the 99.8 million tons reported in May, 12% higher than the previous season and, also, the second largest production in Conab's historical series.