The post-pandemic price adjustment in the worldwide corn market is in progress as 2024 comes to an end. Paulo Molinari, a consultant and analyst at Safras & Mercado, claims that, during the pandemic, prices for around USD 8.00 per bushel recorded the second-highest level in history. Their average bushel price this year was USD 4.00, which is rather close to the USD 3.70 minimum price. Corrections in the Brazilian domestic market followed from this as well. The Brazilian real above BRL 6.18 per USD keeps supporting Brazilian commodities prices, especially in times of reduced pricing elsewhere for goods like corn, soybeans, and wheat. Molinari claims that faster exchange curves help not only with exports but also with off-season 2025 price formation.
Source: Safras&Mercado (*Translated by Ia Niani)