EN 
PT_BR 
The market of corn The Brazilian agro-industry enters the week under short-term pressure, following a strong recent rise in Chicago, but is still supported by fundamentals that limit a sharper drop in prices. This assessment comes from TF Agroeconômica, which points to a neutral to bearish trend in the short term, with no confirmation of a reversal of the upward movement in the medium term.
Among the factors exerting pressure are the progress of the harvest in the United States, the increase in physical availability, sales by American producers, and profit-taking by funds, which liquidated approximately 9,000 contracts. US production was reduced from 406.75 million to 401.33 million tons, but the cut was less than expected by the market.
On the other hand, projected ending US stocks for 2026/27 fell to 39.79 million tons, compared to 41.98 million in August. Exports from the 2025/26 crop also reached record levels, while lower European production and shipping difficulties from Ukraine continue to support international prices.
On the Chicago Board of Trade, the December contract retreated after approaching US$ 5.50 per bushel. The US$ 5.25 region is considered crucial. Holding above this level could allow for a new attempt to advance towards US$ 5.40 and US$ 5.50. If support is lost, the possibility of a drop towards US$ 5.00 increases.
In Brazil, the slowdown in exports is increasing attention to domestic supply. Although September started better than August, the pace remains below that recorded in the same period of 2025. With the second corn crop already well underway, lower absorption by the external market could increase pressure on domestic prices.
The guidance calls for caution and phased protection. For producers, the recommendation is to take advantage of recoveries to make partial sales, while consumers can use the corrections to gradually expand coverage of their needs.
