Brazil corn crop expected to surpass 126 mln T on larger area, yields

Brazilian farmers are expected to produce the highest volume of corn in history in spite of risks associated with planting delays in some areas, according to a Reuters poll.

Brazil’s total corn production will reach 126.63 million tonnes in the 2022/2023 cycle, up 11.93% from the previous year, a poll including 12 analysts showed.

The potential rise in Brazil’s total corn output will be driven by a 4.4% increase in planted area and the expectation of higher yields in the season, poll data showed.

Forecasters said the outlook remains positive in spite of ongoing delays to plant the country’s second corn, which is sowed after soybeans are harvested in the same areas. Sowing second corn later means a higher risk of adverse weather events before the harvest.

Brazil’s second corn represents 70%-75% of national output in a given year.

Now, see below Brazil’s exports of corn in the same period between Jan 2019 to Jan 2023. The data is from DataLiner.

Brazilian corn exports | Jan 2019 – Jan 2023 | WTMT

Source: DataLiner (click here to request a demo)

“The grower is encouraged to plant [second corn] as prices are high,” said Flavio de França Júnior, an analyst with Datagro. The general optimism stems from the good prospects for second corn in Mato Grosso, Brazil’s biggest farm state.

“Progress in Mato Grosso, the main producer of the second crop, has been at a good pace, so the outlook is for a good crop”, said Joao Lopes, market intelligence analyst at StoneX.

Source: Hellenic Shipping News

To read the original news report, go to: https://www.hellenicshippingnews.com/brazil-corn-crop-expected-to-surpass-126-mln-t-on-larger-area-yields/

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