Brazilian G&O monthly update

Highlights

Brazilian soybean farmgate prices increased by 4% in July. Favorable soybean prices prompted selling activity, with storage constraints further encouraging sales.

Farmgate corn prices declined by 1% MOM in July. Progress in the safrinha corn harvest, combined with continued competition from the US and Argentina, put downward pressure on corn prices.

Brazilian soybean exports reached 14.5m metric tons in June, an 8% increase compared to June 2025. A record harvest and Brazil’s competitive pricing in global markets supported strong export performance.

Corn exports in June totaled 0.44m metric tons, up 74% from the previous month. RaboResearch forecasts that 2026 export volumes will decline compared to 2025.

Brazil’s safrinha corn harvest reached 39% this week, supported by strong yields in Mato Grosso. While harvest progress remains delayed in Paraná, crop conditions are favorable in Mato Grosso do Sul. RaboResearch projects Brazil’s total corn production at 140m metric tons for the 2025/26 season.