Corn prices are rising and putting pressure on buyers.

Corn prices continued to rise in the domestic market last week, with the ESALQ/BM&FBovespa Indicator (Campinas – SP) approaching R$ 70/60 kg bag, a nominal level last seen in May/25.

According to a survey by Cepea, the boost came mainly from increased buyer interest coupled with reduced seller activity. Producers are focused on planting and attentive to crop development.

In some regions, according to the Research Center, farmers are concerned about the hot weather, and in others, about the impacts of the rains in mid-November.

In this context, agents are limiting the lots available on the spot market, waiting for further price increases. On the demand side, researchers at Cepea explain that buyers are seeking to replenish their stocks for the end of the year and the beginning of next year, but are encountering higher prices demanded by sellers.

Some buyers remain away from the spot market, waiting for prices to fall, based on the approaching summer harvest, which should lead producers to free up storage space and/or generate cash, given the larger domestic surplus and exports at a slower-than-expected pace.