Brazil: October corn exports were 5.7 million tonnes, 12% below a year ago, and Chicago soybeans fell 2.7% in a week

Brazil's national supply company Conab assessed grain markets in its weekly review "Desempenho de mercado" of 9 November 2026: soybeans are falling in Chicago, corn exports remain below normal, rice in Rio Grande do Sul has fallen for a fourth week, and bread wheat is holding its price.

Key figures

• Corn exports: 5.7 million t
• Vs Oct 2025: -12%
• Chicago soy: -2.7% in a week
• Rice: 4th week of decline
• Wheat: prices firm

What changed

On the world market, soybean quotes kept falling on weaker oil prices and the US harvest: by 1 November, according to USDA, 88% of the US soybean area had been harvested against a long-term average of 84%. In Brazil, the early pace of 2026/27 soybean planting strengthens expectations of ample supply and weighs on futures. The Chicago exchange keeps a downward trend for corn, but with the dollar higher, export parities remain stable.

In numbers

Key figures from the Conab review of 9 November 2026:

• Soybeans, Chicago spot: from 1,227.33 to 1,194.16 US cents per bushel in a week (-2.70%), i.e. ≈ $11.94 per bushel
• Corn: October exports were 5.7 million tonnes, 16% below the five-year average and 12% below October 2025; the best month of the year
• Rice in Rio Grande do Sul: average producer price of 81.35 reais per 50 kg bag (≈ $14.4), down for a fourth week in a row (-0.07% in the week)
• Wheat: excess rain in the south hurt crop quality, creating scarcity; bread wheat prices are firm
• Cotton: prices rose following New York; trading is sporadic, with first interest in advance contracts for the 2027 crop

Context

The review is part of Conab's weekly package "Acompanhamento das Lavouras" for 2–8 November 2026. It also covers other markets: for example, sugar in New York fell from 19.36 to 18.24 cents per pound in the week, and coffee prices are expected by Conab to move moderately in late 2026.

What it means for the buyer

For a farmer in Brazil the review is a guide to revenue for planting and machinery purchases: soybean and corn prices are under pressure, rice in Rio Grande do Sul has been falling for four weeks, while bread wheat is holding on the domestic market. If you plan to buy equipment from the USA, calculate payback on current quotes rather than last year's grain prices, and mind the exchange rate: the central bank's official rate (PTAX) on 13 November was 5.6518 reais per dollar, and a stronger dollar makes imported machinery more expensive in reais, even as it supports grain export prices.

Source: Conab (Brazil's national supply company), "Desempenho de mercado", 9 November 2026