CONAB sees record Brazil corn, soybean crops


CONAB sees record Brazil corn, soybean crops

Brazil’s equivalent of the USDA is projecting record corn and soybean production this year, anticipating increased planted area for beans and corn and improved yields for corn.

That will depend highly on weather. Soybean and first crop corn planting is underway, with good early rain coverage in many areas, but the expected La Nina pattern would likely trim yields.

CONAB sees soybean production at 140.752 million tons, 3.431 million tons above 2020, and pegs first crop corn at 28.313 million tons, an increase of 3.583 million tons, with total corn production at 116.313 million tons, which would be 29.315 million tons higher. Brazil’s critical second corn crop is planted after soybeans are harvested.

22.6% of Brazil’s wheat crop is harvested, with production estimated at 8.191 million tons.

CONAB is also projecting increased cotton production for Brazil and a slight decrease for rice.

Total grain production is expected to be 288.61 million tons.

The USDA’s next set of domestic and global supply, demand, and production estimates is out Tuesday, October 12th at Noon Eastern/11 Central.