Brazilian corn prices rise due to record harvest.

August marked the fourth consecutive decline in corn prices on the Chicago Board of Trade (CBOT), reflecting the prospect of a record harvest in the United States and the absence of Chinese imports. The price fell 5.61 TP4T, closing at USD 3.85 per bushel, after already having declined more than 51 TP4T in July. According to an analysis by Itaú BBA Agro, the expectation of an increase of more than 601 TP4T in US ending stocks reinforces the trend of international pressure.

In Brazil, however, the trend was different. Despite the progress of the second harvest, the reduced selling by producers contributed to the appreciation of the cereal in some markets. In Campinas (SP), the increase was 0.4%, while in Sorriso (MT) the gain reached 6.7%, bringing the sack to R$ 44.

In its latest survey, Conab revised upwards its production estimate for the 2024/25 second crop, from 104.5 million tons (in July) to 109.6 million tons in August. With this, the total estimate for the cycle rose to 137 million tons, consolidating Brazil as one of the main global suppliers.

Meanwhile, planting for the 2025/26 summer crop is already progressing, especially in the southern region. In Rio Grande do Sul, the rains, although low in volume, have benefited the sown areas, and planting has already reached 32% of the estimated area, according to Conab.