Cepea, April 2, 2025 – Corn producers were focused on crop activities in late March. The summer crop harvest has been progressing well in many regions, and sowing activities of the second crop are heading to the end.
On one hand, the dry weather has been favoring the summer crop, but it has been concerning agents regarding the second crop on the other – the rainfall in this period is essential for a good development.
In this scenario, trades moved at a slow pace at the end of the month. Some sellers still limited the volume available, expecting new price rises, while others were willing to close deals, aiming to take advantage of current high price levels. Moreover, some players were concerned with difficulties to store the product, because of the soy harvesting.
As for the demand, many consumers indicate to have stocks; thus, they were away from closing trades in the spot market.
The ESALQ/BM&FBovespa Index (Campinas, SP) rose only 0.25% between February 28 and March 31, closing at BRL 87.71 per 60-kilo bag on March 31.
SHIPMENTS – In 13 producing days of March, 818.4 thousand tons of corn were exported, practically the double of the volume shipped in March last year (427.3 thousand tons).
CROPS – Up to March 23, the harvesting of the summer crop had reached 48% of the area in Brazil, more than the 40.1% verified in the average from 2020-2024 – data from Conab. As for sowing activities of the second crop, the total reached 95.6% until March 23, higher than the average over the last five years (91.9%), according to Conab.
(Cepea-Brazil)
Centro de Estudos Avançados em Economia Aplicada – CEPEA-Esalq/USP
