Corn producers continue focused on the warm and dry weather in Brazil, especially in the Central-West; thus, they remained away from closing trades in the spot market in mid-October. Purchasers, in turn, were willing to buy new batches in order to replenish inventories. As a result, corn prices rose in the first fortnight of October in most areas surveyed by Cepea.

The ESALQ/BM&FBovespa Index (Campinas, SP) increased 5.69% between September 30 and October 15, closing at BRL 67.96 per 60-kilo bag on Oct. 15. In the partial of this month (up to Oct. 15), the Index has averaged BRL 66.64/bag, the highest of this year, in nominal terms.

CROPS – Conab estimates that the 2024/25 summer crop may total 94.02 million tons, 4% up compared to the previous.

Summer crop planting activities had reached 25.9% of the area in Brazil up to October 6 – data from Conab. The rainfall in the South, where activities were concentrated in mid-October, has been keeping positive expectations for the production in early 2025.

PORTS – Data from Secex indicate that corn shipments totaled 1.09 million tons in the first four producing days of October, only 13% of the total exported in the entire same month last year. Anec, in turn, indicates that shipments may amount 5.68 million tons in October.