Corn prices remain firm in Brazil

Corn prices remain firm in most regions monitored by Cepea, although the intensity of the increases was less in the last week.

According to the Research Center, Brazilian buyers remain active, but are having difficulty acquiring new lots, given that they are faced with low availability and higher prices requested by sellers.

These agents, in turn, limit the supply of cereal on the spot, waiting for new appreciations, based on uncertainties regarding the second harvest, which, for now, has a sowing rate below that of the last season.

In an attempt to reduce prices, the Brazilian government announced that it will remove the import tax on corn in the coming days. It is worth noting that, in the 2023/24 harvest, 1.7 million tons were imported, representing only 1.4% of the supply (result of the sum of initial stocks, production and imports, according to Conab data).