High prices have incentivized more farmers to plant corn.

July 2 ruling vacated a 2019 regulation allowing year-round sales of 15% ethanol fuel blend.

Farmers have now harvested 70% of the crop in the country’s center-south region.

But corn up 4%, soybeans up 5% from 2020.

Cereals, vegetable oils and dairy prices slip while sugar and meat rise in July.

Country still seeking other import opportunities as Brazil’s grain production is challenged by drought. 

Country is expecting to import a record amount of wheat in 2021-22.

Producers continue to prioritize more profitable crops such as corn and rice. 

Conab predicts crop failure in three states due to water stress, followed by frost.