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Delay in harvesting second corn crop slows price decline

The delay in harvesting the second corn crop has limited the downward movement in cereal prices in some markets, according to surveys by Cepea.

According to the Research Center, prices remain under pressure due to the prospect of high supply and external devaluations.

In consumer regions, such as São Paulo, however, prices have reacted, influenced by demand above the supply of standardized corn – it is worth noting that recent rains have limited the availability of this type of cereal.

As of June 21, the second crop harvest totaled 10.3% of the national area, a weekly increase of 6.4 pp, but well below the 28% in the same period last year and the 17.5% average of the last five years, according to Conab.

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