Corn price in Brazil has fallen sharply in Brazil in 2023, pressured by record harvests.

The fall in grain prices (corn and soybean) has been much greater than the devaluation observed in the cattle market, as the Chart below highlights.

Chart illustrates the cumulative daily variation of the price of beef cattle (Cepea), calf (Cepea, Mato Grosso do Sul), corn (Cepea) and soybean (Cepea, Paranaguá-PR), throughout 2023, until May 15.

Corn price in Brazil accumulated the largest fall in the partial 2023, until May (15), with a loss of 31.6%, followed by soybeans, which fell 24.2% in the period.

The average value of corn in the partial May 2023 was the lowest nominal value since September 2020. This greater drop in the price of corn compared to fat cattle improved the purchasing power of cattle ranchers in the year.

The live beef cattle and the calf price, both showed lesser price drops in the year compared to corn and soybeans. The live beef cattle (Cepea) fell 4.6% between the end of 2022 and the partial May (15th), while in the same period the calf (Cepea, Mato Grosso do Sul) depreciated 6.6%.

Farmnews has also updated the data on the Chinese importance in Brazilian beef exports in April 2023. Click here!

It is also importante to highlight that the production of soybeans in Brazil should renew its historical maximum in the year 2023, with forecasts of over 150.0 million tons. Click here and check it out!

Farmnews also presents the March 2023 soybean export data for Brazil, showing an increase compared to the same period in 2022. Click here and check it out!

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