News
USDA FAS cuts Brazil corn estimate
The USDA’s Foreign Ag Service has lowered its outlook for Brazil’s corn crop because of lower yield potential.
Production is projected at 105 million tons, down 2 million from the previous estimate and 4 million less than the official USDA guess, on lower first crop yields and planting delays for the critical second crop caused by soybean harvest delays. Brazil’s second crop is the largest of the three and the source of most of their exports. The FAS sees Brazil’s corn exports at 37 million tons, which would be up 1.5 million tons from the previous marketing year. The USDA also projects Brazil’s 2020/21 corn imports at 1.5 million tons.
Wheat production is expected to be 6.25 million tons, compared to the official estimate of 6.3 million tons and the year ago total of 5.15 million, with imports at 6.3 million tons, including 750,000 tons expected to be sourced from the U.S.
The USDA’s next set of official estimates for Brazil is out February 9th.
