Brazilian corn appreciates with record harvest

August marked the fourth consecutive decline in corn prices on the Chicago Board of Trade (CBOT), reflecting the prospect of a record harvest in the United States and China's lack of imports. Prices fell 5.6%, closing at USD 3.85 per bushel, after having already fallen more than 5% in July. According to an analysis by Itaú BBA Agro, the expected increase of more than 60% in US ending stocks reinforces the trend of international pressure.

In Brazil, however, the trend was different. Despite the advance in the second harvest, the decline in sales by producers contributed to the appreciation of the grain in some markets. In Campinas (SP), the increase was 0.4%, while in Sorriso (MT) the gain reached 6.7%, bringing the bag to R$ 44.

In its latest survey, Conab revised production for the second 2024/25 harvest upward, rising from 104.5 million tons (in July) to 109.6 million tons in August. This brings the total estimate for the cycle to 137 million tons, solidifying Brazil as a leading global supplier.

Meanwhile, planting work for the 2025/26 summer crop is already progressing, especially in the South. In Rio Grande do Sul, rainfall, albeit low, has benefited the planted areas, and planting has already reached 32% of the estimated area, according to Conab.