Corn prices have been rising for four consecutive weeks, according to data from Cepea. The main driving factor has been the retraction of sellers, both in spot negotiations and in future deliveries. Concerns about the hot, dry weather, as well as strong domestic and foreign demand, have kept producers cautious.

In Campinas (SP), where the ESALQ/BM&FBovespa indicator is calculated, the 60 kg bag of corn closed at R$ 63.50 last Thursday (12), the highest nominal value recorded since January this year. Despite the optimistic harvest estimates for Brazil and the world released by Conab and the USDA, which point to high production, domestic prices continue to rise.

As of September 12, corn has already risen by 4.8%. According to experts at Cepea, producers are still expecting further rises due to the effects of the weather on summer crops and possible delays in sowing the second 2024/25 crop.

Source: Agrolink