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Commodities

Brazilian Corn Market Prices Stabilize Amid Export Shortfall

Guavy AI Editorial Team
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Corn
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Brazil's corn market has seen prices stabilize with an upward bias due to limited supply from the second harvest. Domestic demand remains strong, while exports in August fell below expectations at 4.6 million tonnes, down 32% from last year. The second corn crop is nearly complete, with only some areas in Santarém and Paragominas left.

On the Chicago Board of Trade, prices rose to levels not seen since 2023 due to a poor harvest in Europe and increased overall demand. This favorable international environment may lead to increased Brazilian corn exports. However, August's below-expected export volume requires recovery in September to meet projected totals.

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