StoneX cuts forecast for 2nd corn crop in Brazil to 60.45m tons after frosts

The frosts that recently hit the states of Mato Grosso do Sul and Paraná led the consulting firm StoneX to reduce its projection on July 1 for the second crop of corn 2020/21 in Brazil, to 60.45 million tons, compared to an estimated 62 million in the previous month.

With this, the expectation for the total production of cereal in the country – which had already been affected by the drought – also dropped from 89.68 million tons to 87.93 million tons, according to a survey.

Last year, Brazil produced a total of 102.5 million tons of corn.

Source: Money Times

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