According to Cepea Indicator, the price of corn rose about 30% in October 2020, up 7% in the last seven days. On Wednesday (28), rates reached the historical record of R$ 82.67 per bag. According to Lucilio Alves (Cepea), the current context is quite favorable for sellers and worrisome for buyers, since several factors should boost corn prices until the end of the year. Alves points out, in particular, to the strong domestic and international demand for the product; the export volumes, initially estimated at 35 million tons; the concerns about the summer harvest and the delay in planting the off-season in 2021; and mainly the US Dollar to Brazilian Real fluctuating exchange rate. Given this scenario, Alves said that corn prices will remain steady in Brazil. Although US Dollar exchange rate to the first half of 2021 is slightly lower than now, numbers remain extremely high compared to the same period of 2019.
Source: Notícias Agrícolas
*Translated by Ia Niani