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Corn prices continue to rise in most of the regions monitored by Cepea. Close to R$70 per 60 kg bag, the ESALQ/BM&FBovespa Indicator (Campinas - SP) accumulated an increase of 9% in December (as of the 14th).
According to Cepea researchers, the strong retraction of sellers, who are still worried about the weather and the possible impacts on supply in the coming months, has kept the pace of business slow in the national spot.
On the demand side, consumers are showing a need to replenish stocks, especially for the end of the year, while exports are strong.
So far, Conab estimates that the area allocated to the cereal for the 2023/24 summer harvest will be 9% smaller than that of 2022/23, resulting in a production of 25.31 million tons, which in turn would be 7.5% lower than the previous season.
December 18, 2023/ CEPEA/ Brazil.
https://www.cepea.esalq.usp.br
