Exchange rate and weather put pressure on corn and soybean prices in Brazil

The appreciation of the exchange rate in the second half of April, combined with the favorable weather and the expectation of a good winter harvest, resulted in a fall in the prices of corn and soybeans on the national market.

The downward trend was reinforced by the consistent supply of grains, especially in the case of cereal, whose second harvest represents the majority of annual production in Brazil.

Soybean meal, in turn, started the month with a slight increase, but began to decline in the following weeks.

The downward movement was sustained by the good domestic supply of the oilseed, which reduced demand pressure on the by-product.

In the beef cattle market, prices remained relatively stable throughout April, reflecting a momentary balance between supply and demand.

In the replacement segment, calves showed gradual appreciation during the month, with positive fluctuations driven by the constant demand for young animals for fattening.