Corn is rising again in November. Who is paying more: feed, ethanol and ports
The Cepea indicator reached R$67.28 per bag (+2.5% in the month). Buyers had to restock and sellers held back with firm ports and a strong dollar.
To save you time3
- What is the corn price?
- R$67.28 per 60 kg bag on the Esalq/B3 indicator on Nov 12, up 2.5% in November. October closed at R$65.64.
- Why did it rise?
- Buyers needed to restock and sellers held grain back with firm port prices and a stronger dollar.
- And corn ethanol?
- Plants compete for grain when exports lose steam, creating a floor for domestic prices.
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Brazilian corn is rising again: the Cepea/Esalq-B3 indicator reached R$67.28 per bag on Nov 12, +2.5% in November, after a weak October (closed at R$65.64).
Why it rose
- Buyers needed to restock and paid up for prompt delivery.
- Sellers held back, supported by firm port prices and a stronger dollar.
Who competes for the grain
- Poultry and pork feed, a large share of domestic use (estimated at 145.7 million tonnes in 2026).
- Corn-ethanol plants, which buy when exports lose steam, creating a price floor.
What I would watch
Firm corn means higher costs for chicken and pork producers (MBRF3, Seara) and better prices for farmers holding grain. With the dollar at R$5.65, ports should stay competitive.
