Corn/CEPEA: Firm Sellers Sustain Price Increases

According to the University of São Paulo research center, despite limited corn trading activity last week, largely due to the Carnival recess, corn prices continued to show firm increases. Researchers from Cepea (Center for Advanced Studies in Applied Economics) indicated that this upward trend was primarily supported by farmers' reluctance to sell, as they are currently focused on field activities, and by the strong stance of the few active sellers in the national spot market. Data collected by Cepea reveals that from the buyer's perspective, many encountered obstacles due to high prices and logistical challenges, with the priority currently being the delivery of soybeans. In the fields, agricultural activities are progressing satisfactorily, although there are specific concerns regarding a lack of rainfall in some regions of Southern Brazil. In other areas, the harvest of the summer corn crop and the planting of the second crop are proceeding steadily, further bolstering the market.