Cepea, December 3, 2024 – More favorable weather conditions influenced in an advance of sowing activities for both corn and soybean (summer crop) or even eliminated players’ concerns about the second crop being planted out of the desirable period in 2025. Moreover, the rainfall favored the development of the summer crop (plants already implemented) in late November.
In this scenario, consumers who had already closed deals in previous weeks reduced the pace of trades at the end of the month.
The ESALQ/BM&FBovespa Index (Campinas, SP) downed 0.23% between October 31 and November 29, closing at BRL 72.77 per 60-kilo bag on Nov. 29.
PORTS – Brazilian shipments totaled 3.46 million tons of corn in the first 14 producing days of November, accounting for 47% of the total volume exported in the same month last year – data from Secex. Anec estimates that exports may total 5.1 million tons in November, below the 7.4 million tons sold in November 2023.
CROPS – Up to November 24, the 2024/25 summer crop planting had reached 58.7% of the area in Brazil – data from Conab.
(Cepea-Brazil)
Centro de Estudos Avançados em Economia Aplicada – CEPEA-Esalq/USP
