Wholesale prices of yellow maize exhibited mixed month-on-month trends across the subregion in October 2025. In Argentina, wholesale prices of yellow maize strengthened for the fourth consecutive months, amid ongoing planting operations. The limited supply from the 2025 drought‑reduced harvest and the depreciation of the national currency drove prices 42 percent above their previous year’s level. Yellow maize prices in Brazil were mostly stable or registered moderate declines across the monitored markets, reflecting ample supplies from the 2025 record‑high crop that was harvested in September. Prices were moderately lower than the previous year, as large market availabilities more than offset the growing demand from the ethanol industry. In October, prices of yellow maize showed a seasonal increase in Peru and in the Bogotá Market in Colombia. On a yearly basis, prices were about 12 percent lower in Peru, driven by the above-average 2025 outturn and higher year-on-year 2025 import volumes. In Colombia, yellow maize prices were lower than the previous year, eased by a larger year-on‑year outturn. Yellow maize prices remained stable month-on-month in Paraguay and Ecuador, reflecting adequate market availabilities. While prices were nearly unchanged in Paraguay, they generally decreased in Ecuador compared to 2024 levels. In Uruguay, wholesale prices of yellow maize declined steadily from March through September 2025 and were about 22 percent lower year-on-year after two consecutive years of above‑average harvests.

Wholesale prices of rice were mostly stable or declined month-on-month across the subregion in October 2025, reflecting ample availability from large domestic production and imports in 2025. In October, wholesale prices of rice followed mixed month-on-month trends across the monitored markets in Brazil and were on average 20 percent below their level of the previous year, weighed by the large supply from an above-average 2025 harvest. Wholesale prices of rice declined month‑on-month in Peru, Colombia and Ecuador, and were lower than their previous year’s levels, pressured downward by above-average outturns in 2024 and 2025. Prices of rice in Paraguay were stable in September and October, amid a boost to domestic supplies following large import volumes between July and September. Prices, however, remained 6 percent above their year-earlier level, underpinned by the impact of a drought-reduced harvest in 2025. In Uruguay, rice prices remained stable in August and September, after contracting seasonally for three months. The above-average production in 2025, placed downward pressure on prices, which were 36 percent below their level of one year earlier.

Wholesale prices of wheat weakened seasonally in October 2025 across wheat producing countries, while remaining generally stable in importing countries. Following sustained increases in the four preceding months, wholesale prices of wheat declined month-on‑month in October across the monitored markets in Argentina and Chile, in line with improved market availabilities from the start of the harvest. In Argentina, a year‑on‑year increase in export volumes helped to lift prices to over 20 percent above their year earlier levels, while in Chile, prices were 6 percent higher year‑on-year, due to limited availabilities from the 2024 below-average harvest. In Brazil, prices of wheat declined steadily from May to October 2025 and were over 12 percent lower than the previous year, pressured by the ample supply from two consecutive years of above‑average imports. Prices of wheat flour were nearly unchanged month-on-month in October in Ecuador, Colombia and Peru, three of the main importing countries in the subregion, reflecting adequate supplies, and were lower than the previous year, eased by large import amounts from the start of the year, as well as ample carryover stocks. In August and September wholesale prices of wheat weakened in Uruguay, reflecting positive prospects for the 2025 season harvest, expected to start in November. Compared to the previous year, prices were about 7 percent lower, eased by ample supplies from the above-average 2024 outturn.