Conab: soybean and corn harvest up, shipments down

The total maize crop in Brazil for 2021/22 was projected at a record 115.2 million tonnes this Wednesday, according to a study from the National Supply Company, which had predicted a harvest of 114.58 million tonnes in May.

With the harvest of the second crop already underway, Conab projects an increase in the country’s total production of 32.3% compared to the 2020/21 commercial year, when frosts and drought severely affected productivity.

Conab also adjusted the country’s harvested soybean crop to 124.27 million tonnes, up from 123.8 million in May, representing a 10.1 percent decline compared to the 2020/21 cycle, probably caused by drought.

The state-owned company also reduced the forecast for soybean exports from Brazil in 2022 to 75.23 million tonnes vis-a-vis 77 million in the previous projection and 86.1 million in 2021, when there was a record shipment.

Corn exports were kept at 37 million tonnes, in line with May figures, standing out compared to the 20.8 million seen in the last cycle.

Source: Money Times

To read the full original article, please go to:

https://www.moneytimes.com.br/conab-eleva-previsao-de-safras-de-soja-e-milho-do-pais-corta-embarques-da-oleaginosa/

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