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Corn prices have remained close to R$ 69.00 per 60 kg bag throughout this month, despite recent occasional declines in the domestic market. (Survey by...) Cepea This indicates that the downward movement is mainly associated with the cautious stance of buyers.
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On the demand side, some agents report comfortable inventories and are adopting a wait-and-see strategy, betting on sharper price declines in the short term. This behavior has reduced liquidity and limited the ability to support prices.
On the selling side, there is a greater willingness to negotiate. Faced with weakening demand, corn producers and holders have, at times, lowered their asking prices to make deals viable.
Still according to CepeaThe pressure on prices also reflects the appreciation of the real against the dollar, which reduces export parity, the progress of the summer crop harvest, and the improvement in weather conditions in second-crop producing regions, with the return of rains favoring crop development.
