Limited supply and strong exports are driving up corn prices.

Corn prices continued to rise last week, with the ESALQ/BM&FBovespa Indicator (Campinas – SP) returning to the R$ 65/60 kg bag range.

According to researchers at Cepea, the boost came from reduced selling activity and a temporary increase in demand. Sellers are paying close attention to the weather conditions for planting the summer crop.

The return of rains to the southern and especially the central-western regions brings some relief, but it also prevents fieldwork from being carried out more intensively.

Furthermore, Brazilian exports in September showed good momentum, supporting prices at ports and inland across the country.

On the buying side, some agents are returning to the spot market in order to replenish their inventories, but many still indicate that they only have volumes for the short term, which, in a way, limits further price increases.