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Analyst says Brazil frost “the equivalent of U.S. Corn Belt getting 3 nights of frost in mid-July”
Recent bouts of mid-season frost are taking a bite out of Brazil’s second-crop Safrinha corn.
Soybean and Corn Advisor president Dr. Michael Cordonnier says temperatures in southern Brazil dipped below freezing three weeks ago and it’s expected to be even colder this week.
“The coldest in 20 years in some of these areas. And I like to tell people that 20 years ago there was not much Safrinha corn. And now that crop accounts for three-quarters of all of Brazil’s corn production.”
He’s lowered his production outlook about 20 million tons to 88 million.
“So they are going to have a very, very tight corn supply. There are a lot of reports of washing out of export contracts because you can get a lot more for your corn selling to the domestic market. So Brazil’s corn exports are going to be way down.”
Cordonnier tells Brownfield the Brazilian frost events are the equivalent of the U.S. Corn Belt experiencing three nights below freezing in mid-July.
