Corn prices continue to fall in Brazil

Corn prices continue to fall in Brazil, a trend that has been observed since mid-April, according to surveys by Cepea.

According to the Research Center, the decline continues to be linked to the retraction of buyers, who are betting on new devaluations based on the increase in supply, especially given the start of the second harvest, and limitations in storage capacity. Conab estimates production of 99.8 million tons, 11% above the previous harvest.

Furthermore, Cepea researchers explain that the recent falls in the dollar and external prices reduce export parity and reinforce pressure on domestic prices.

As for Brazilian shipments of the cereal, in May, the volume sent abroad was limited to 39.92 thousand tons, well below the 413 thousand tons recorded in May 2024, according to Secex data analyzed by Cepea.