Mar 28, 2025
Corn Prices in Mato Gross Soar to Almost 3-Year High
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The price of corn in Mato Grosso reached R$ 71.26 per sack (approximately $5.68 per bushel) last week, which was the highest price in almost three years when it hit R$ 70.79 per sack (approximately $5.64 per bushel) in June of 2022 during the peak of the pandemic according to the Mato Grosso Institute of Agricultural Economics (Imea).
Compared to the same period last year, corn prices are up 109%. The increased price reflects reduced production in 2023/24 and increased demand for corn to produce ethanol.
Approximately 20% of Brazil's ethanol is now produced using corn as the raw material. This is up from zero percent in June of 2017 when the first corn-based ethanol facility opened in the city of Lucas do Rio Verde in the state of Mato Grosso. An estimated 20 million tons of corn will be used in Brazil in 2025 to produce ethanol. Conab is currently estimating that Brazil will produce 122.7 million tons of corn in 2024/25.