Corn price index falls in first half of the year

With expectations of a record 2022/23 harvest in Brazil, corn prices have been registering strong consecutive daily drops – the declines have been seen since the end of March.

According to Cepea collaborators, while domestic buyers only acquire small volumes on the spot, sellers are more flexible in negotiation prices, and exporters prioritize negotiations involving soybeans.

In a report released this month, Conab raised its harvest forecast by 200,000 tons compared to March estimates, due to the improvement in summer crop production. Now, the 2022/23 season is estimated at 124.87 million tons, an increase of 10.4% compared to 2021/22.