Corn prices continue to show different behavior in different regions of Brazil. In the week ending December 16, prices remained firm in most locations, mainly supported by the reduction in sellers. This behavior is attributed to the limited supply during this time of year, when warehouses, grain producers and transporters operate at a reduced pace due to the recess. Despite the firmness in prices, expectations for the 2024/25 harvest are positive. The return of rains generated optimism among producers, and the aggregate volume of corn could reach 119.63 million tons, an increase of 3.4% compared to the 2023/24 harvest. The following week, ending on December 23, the market showed a punctual pace of negotiations, typical of the end-of-year period. According to Cepea, liquidity was limited by the disparity between the prices offered by buyers – who showed low intention to purchase – and the values asked by sellers.
Sources: RPA News/CEPEA