EN 
PT_BR 
The market of corn The market enters next week with an upward bias, but the main recommendation is to take advantage of the appreciation while protecting margins and making gradual sales, avoiding concentrated decisions. According to TF Agroeconômica's weekly analysis, the scenario combines favorable international and domestic fundamentals, although there is a risk of profit-taking after the recent price recovery.
For producers, the advice is not to sell the entire available harvest at once. The suggested strategy is to negotiate 20% to 30% now, repeat the sale if the physical market reaches R$ 70 to R$ 72 per sack, and sell a new portion between R$ 73 and R$ 75, keeping the balance open to monitor a possible continuation of the increase. In the future harvest, the B3 curve is also seen as an opportunity to lock in part of the margin, with January 2027 close to R$ 79 to R$ 80 per sack and March near R$ 81.
For cooperatives, the recommendation is to buy selectively, combining physical inventory with hedging, without maintaining completely uncovered positions. Grain traders should work with moderate inventory and fast turnover, given the risk of correction in Chicago. Exporters, in turn, can increase origination, but need to continuously compare export parity with domestic parity.
In the ethanol industry, the recommendation is to gradually increase corn coverage over the coming months, reducing exposure to a potential further price increase. TF also emphasizes that producers should not automatically associate price increases in Chicago with domestic prices, as exchange rates, freight costs, regional supply, and demand can all affect price formation in Brazil.
Options for investment options: Rising corn prices favor gradual sales and hedging; Corn strategy prioritizes staggered sales; Futures curve opens up space for margin protection; Analysts indicate caution after corn price advance; Higher corn prices reinforce hedging and gradual coverage.
