Brazil established as a major player in the maize market
2016 begins with the rising prices in the domestic market, driven by strong exports in the last quarter of 2015, which meant the year broke 2013's record.
The depreciation of the Brazilian real has made the product more competitive, and this will sustain domestic prices this year.
Current price levels could mean farmers maintain their acreage for the winter crop, which - depending on the weather - could result in a similar harvest to 2015. Exports will therefore remain the main driver of domestic prices in 2016.
Information provided by Cepea