Corn maintains its upward trend at the beginning of December.

In the first ten days of December, corn maintained its positive trend on the CBOT, supported by firm demand for US grain. In Brazil, prices advanced in November and continued to rise in early December, sustained by domestic demand for animal feed and ethanol production.

On the Chicago Board of Trade (CBOT), corn recorded its third consecutive monthly increase in November, rising 2,1% to US$4,30 per bushel. At the beginning of December, the cereal maintained its upward trend, averaging US$4,35 per bushel, a 1,1% increase. In addition to following the rise in soybean prices, corn benefited from strong demand for the product from the United States, which remains competitive compared to other origins.

In the domestic market, prices rose 2,8% in November in Sorriso (MT), to R$ 50 per sack, and advanced another 3,1% in the first ten days of December, to R$ 51,30 per sack. Domestic demand maintained support for prices, with increased consumption for animal feed and ethanol. Despite the slower-than-expected pace of shipments at the beginning of the season, the lower intensity of exports has not yet put pressure on prices, since domestic demand has absorbed part of the available corn.

Furthermore, concerns about the planting window for the second crop contributed to supporting prices along the B3 curve. The next few days will be crucial in defining the planting window and investments in the second crop. The area allocated to corn will depend on prices, the progress of the soybean harvest, and weather risks, especially in regions where there was a delay in planting the summer crop.