B3: derivatives exchange in São Paulo
São Paulo-based B3 is a multi-asset Brazilian exchange with contracts linked to corn, cattle, coffee, ethanol and soybeans.
AGR-005 · Derivatives exchange · São Paulo, Brazil · BRL; USD by product
Domestic benchmarks for Brazilian agriculture
São Paulo-based B3 is a multi-asset Brazilian exchange with contracts linked to corn, cattle, coffee, ethanol and soybeans. Its agricultural relevance comes from its connection to a large domestic production and processing economy. Quotations reflect the conditions specified in Brazilian contracts. They should therefore not be equated directly with an export FOB port price or a similarly named US futures price.
Brazilian commercial units deserve attention. The CCM corn contract corresponds to 450 bags of 60 kilograms, or 27 metric tonnes. Other products have different sizes and quotation currencies, which must be read from their own specifications. Arabica and Conilon coffee are distinct commodities with different uses and quality considerations. Comparing a bag price with a tonne price requires the correct weight conversion as well as any currency conversion. A trader should preserve both the original quoted unit and the converted unit in a working price comparison.
A producer seeking price protection can assess an appropriate expiry with a broker supporting B3. A physical purchaser should separately negotiate the variety, grade, loading location, schedule and documents with the supplier. Some instruments are cash settled, so buying the contract does not provide a right to collect corn or cattle. Products with a delivery mechanism require checks on certification and approved facilities. Matching the timing of the commercial purchase or sale to the instrument used for price management is particularly important; otherwise, the business may retain exposure during the period when it actually needs the commodity.
Use the current Daily Market Bulletin when researching prices. B3 has moved information previously displayed on retiring quotation pages into this bulletin, which matters when maintaining saved links. Select the exchange-traded derivatives section and identify the correct symbol. UP2DATA also provides settlement and statistical datasets for professional users. An overseas counterparty should include the contract currency, brokerage, margin funding, inland freight and export handling in its commercial assessment. Compare offers only after bringing them to the same quality, quantity unit and delivery basis. This makes the domestic benchmark useful without assuming that a futures transaction includes the physical supplier, transport service or export arrangements required for a shipment.
What is priced: Grains, oilseeds and pulses, Livestock and meat, Fuels, energy and biomass, Coffee, cocoa, tea, sugar, cotton, rubber and spices
Where to find the prices
Products and quotations
Corn CCM; Live cattle BGI; Arabica coffee ICF; Conilon Robusta coffee CNL; Hydrous ethanol ETH; Soybeans SJC
Key figures
- Coffee futures turnover: 47,000,000,000 BRL (2025). Approximate; coffee contracts, not all B3 markets.
- Coffee volume expressed in bags: 19,000,000 bags (2025). More than; contract-equivalent volume.
Sources
- B3 — coffee market 2025
- B3 — Daily Market Bulletin
- B3 — corn specification
- B3 — available data
All agricultural exchanges, markets and price sources
