Brazilian Grain Production Could Reach 366.6 M Tonnes in 2026/27
The Agriculture Secretariat of Argentina authorized a genetically modified yeast for industrial corn-based bioethanol production under Resolution No. 171/2026. According to the government, the technology achieves yields above the industrial standard and will be used exclusively for fuel bioethanol production. (Secretariat of Agriculture)
Exports from regional agricultural and food chains reached a record US$ 5.76 billion between January and July, up 12% from the same period of 2025, with volume increasing 6.5% to 4.38 million tonnes. Dairy exports were among the highlights, reaching a record US$ 987 million (+18%), while volume increased 20% to the equivalent of 1.84 billion liters of milk. (Secretariat of Agriculture; Indec)
Inflation slowed to 1.7% in August, from 2.1% in July, bringing 12-month inflation to 33.5% and year-to-date inflation to 21.3%. Despite the slowdown, a survey by Ipsos, a market research and public opinion company, showed that 75% of respondents rated the economic situation negatively and 55% identified unemployment as a major concern. (Indec; Ipsos)
MSU Agro could add more than US$ 70 million in annual sales from a new peanut processing plant in Rufino, Santa Fe, according to FIX, a credit rating agency affiliated with Fitch Ratings. The project received approximately US$ 92 million in investment. (MSU Agro; FIX)
Corn exports reached a record 29.1 M tonnes between January and August, while the Rosario Board of Trade – BCR raised the projection for the country’s 2026/27 corn area to 10.6 M hectares, with production expected to exceed 67.5 M tonnes. Disruptions in Ukrainian exports and lower Brazilian supply are creating additional opportunities for Argentine corn. (BCR)
Santander projects Argentina to increase beef exports to China as Brazil and Australia reach the limits of their respective import quotas in the Chinese market. Argentina had used around 60% of the quota, while the country’s beef exports increased 8% year-on-year. (Santander)
Rabobank warns that 54% of Brazilian food and agricultural exports are concentrated in China, the EU and the US, with China alone accounting for 33%. At the same time, around 80% of fertilizers used in Brazil are imported. The bank points to market and product diversification and lower dependence on imported inputs as ways to increase agribusiness resilience. (Rabobank)
At the end of 2025, Fiagros, investment funds focused on agribusiness production chains, and CRAs, agribusiness receivables certificates, were equivalent to 33% of the rural credit balance, up from 19% in 2021. In the 1H26, Fiagro issuances reached approximately US$ 1.61 billion, up 288.3% from the 1H25, while CRA issuances totaled approximately US$ 1.38 billion, down 50.4%. CRA outstanding volume reached approximately US$ 33.9 billion in July, while Fiagro net assets totaled approximately US$ 12.5 billion in June. (ANBIMA; MAPA)
SLC Agrícola approved the company’s first issuance of a financial-settlement Rural Product Note – CPR-F, an agribusiness debt instrument, totaling approximately US$ 100 million, and maturing in September 2033. Proceeds will be used exclusively for agricultural activities, including production, processing, commercialization and investments. (SLC Agrícola; CVM)
The Center for Advanced Studies on Applied Economics – Cepea, at Esalq/University of São Paulo, projects a margin of approximately US$ 233/head for feedlot cattle marketed at the end of 2026. Revenue could exceed approximately US$ 1.42 K/head, while total costs are estimated at approximately US$ 1.21 K. The projection is mainly supported by expected higher finished cattle prices. (Cepea; Tortuga/DSM)
Ethanol prices at mills in the State of São Paulo increased more than 20% since late July, including an increase of more than 2% in the latest week. According to the Center for Advanced Studies on Applied Economics – Cepea, at Esalq/University of São Paulo, rains delayed sugarcane crushing and increased concerns over the volume that can still be processed and inventories for the coming months. (Cepea)
BTG Pactual structured a new agribusiness investment fund – Fiagro with an initial offering of approximately US$ 1.95 billion and the possibility of reaching approximately US$ 3.89 billion through an additional lot. The fund targets professional investors and will invest in agribusiness receivables. The base offering exceeds the approximately US$ 1.61 billion issued by all Fiagros in the 1H26. (BTG Pactual; CVM)
Rumo and CHS Agronegócio are expected to begin construction in September on a new grain and fertilizer terminal at the Port of Santos, State of São Paulo, through a 50/50 joint venture. With investment exceeding approximately US$ 488 million, according to Rumo, the facility will have an annual capacity to handle 10 M tonnes of grain and receive 3 M tonnes of fertilizers. (Rumo)
S&P downgraded 3tentos’ credit rating from brAA to brA+ and changed the company’s outlook to negative. The agency cited weaker profitability, higher debt relative to cash generation and reduced financial flexibility to meet short-term obligations. Three series of a CRA issuance backed by receivables from the company were also downgraded. (3tentos; S&P; CVM)
Conab projects Brazilian grain production at 366.6 M tonnes in 2026/27, up 1.4%, with planted area reaching 85.3 M hectares. Soybean production is projected at 181.64 M tonnes, while corn could reach 148 M tonnes (+2.8%). (Conab)
MacroSector projects Brazilian agricultural revenue to decrease 4.3% in 2026 to approximately US$ 201 billion. Soybean revenue is expected to increase 5.2%, while corn revenue decreases 8.3%. Fertilizer sales are projected to fall 10% to 44.2 M tonnes. (MacroSector)
Chile and China implemented an agreement that eases phytosanitary requirements for Chilean fresh fruit exports. Measures include additional packaging options, expanded in-transit cold treatment and simplified shipment identification requirements. (SAG)
Agricultural, food and beverage exports totaled US$ 8.66 billion between January and July, down 2.4% from the same period of 2025. Over the same comparison, cocoa and cocoa product exports decreased 62.3% and coffee exports fell 9.5%, while palm oil exports increased 26.1% and banana exports rose 20.6%. (Analdex; DANE)
Coffee production decreased 12% in August to 1.09 M 60-kg bags. Over the last 12 months, production decreased 15% to 12.58 M bags. (Fedecafé)
Annual inflation reached 3.26% in August, up from 3.12% in July. Food, beverage and tobacco prices increased 4.68% over 12 months, while the consumer price index rose 0.20% during the month. (Inegi)
Mexican imports of yellow and white corn totaled 12.2 million tonnes in the 1H26, up 0.19% from the 1H25. Yellow corn accounted for 11.7 million tonnes, up 1.01% in the same comparison, worth US$ 2.5 billion. A sale of 264 K tonnes of US corn to Mexico for delivery in MY 2026/27 was also reported. (USDA; Agriculture Secretariat; ANAM)
The 2027 budget proposal allocates approximately US$ 5.18 billion to the Agriculture Secretariat, up 17% nominally from 2026, but reduces funding for direct farmer support programs. Funding for Acopio para el Bienestar is set to decrease 19.7% to approximately US$ 609 million, while Producción para el Bienestar would decrease 2.7% to approximately US$ 992 million. (Ministry of Finance and Public Credit; PPEF 2027)
Ilya Espino de Marotta is the new Administrator of the Panama Canal for 2026–2033, becoming the first woman in the role. The 2025–2035 strategy includes US$ 2.6 billion in new port terminals and more than US$ 4 billion for an energy corridor. (Panama Canal Authority)
Cargo flows through the Paraguay–Paraná Waterway could reach 50–60 M tonnes by 2040, driven by agricultural expansion and investments related to iron ore. Paraguay’s combined soybean, corn and wheat production is projected at 44.5 M tonnes by 2040. (Capeco)
Inflation was unchanged in August, with a monthly variation of 0%, while year-to-date inflation reached 1.8%. Food prices decreased 0.8% during the month, including declines in meat, vegetables, rice, dairy products and oils. In contrast, the FAO Food Price Index increased 1.9% in August and 2.5% over 12 months. (BCP; FAO)
Alicorp, a Peruvian food and consumer goods company, secured syndicated financing of up to US$ 480 million, provided by a group of financial institutions, amid the company’s regional expansion. The structure includes a committed facility of up to US$ 230 million for the company and loans of up to US$ 250 million for subsidiaries in Colombia, Ecuador and Spain. (Alicorp; SMV)
IDB Invest proposed financing of up to US$ 50 million for Danper, a Peruvian agricultural exporter. Proceeds would finance blueberry expansion, replacement of asparagus fields, increased production capacity, working capital and debt refinancing. The proposed financing has a term of up to ten years. (IDB Invest)
Corporación Agrolatina, a Peruvian grower with more than 2 K hectares in Ica and Nazca, secured a US$ 40.5 million loan from Rabobank. The company grows, packs and exports table grapes, avocados and pomegranates. (Corporación Agrolatina; Echecopar)
Agricultural land leases totaled approximately US$ 120 million in 2025, according to a report released in September. In the 2H25, 515 K hectares were leased for nearly US$ 70 million, with the average price reaching US$ 136/ha/year, 5% above the 1H25. For the full year, the average price increased 3.3% from 2024 to US$ 133/ha/year. (MGAP)
Neltume Ports submitted a US$ 900 million project for a new container terminal at the Port of Montevideo, currently under government evaluation. The facility would have capacity to handle up to 1.15 M TEUs per year [twenty-foot equivalent units, the standard measure for container capacity] and includes a berth for transshipment of barge cargo. (Neltume Ports)
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