Corn prices are falling

Corn prices are falling, as shown by data from Cepea. Between September 17th and 24th, the ESALQ/BM&FBovespa Indicator (Campinas – SP) for corn fell 3,42%, closing at R$ 90,47/sc this Friday, 24th.

The pressure comes mainly from the reduction in buyers, but also from the advance of the second crop harvest, the reduction in exports and, more recently, the progress of sowing for the 2021/22 summer season.

Many applicants only negotiate specific lots, while sellers are more flexible in terms of prices, especially those who need to “raise cash” to pay debts. This scenario has been observed even after confirmations of a drop in supply, due to unfavorable weather, and low inventories.