BrownfieldAgNews reports:
Brazil’s equivalent of the USDA has raised its second crop corn production estimate.
CONAB now has that second corn crop at 104.538 million tons, up 3.5% from June 16% from 2024 thanks to higher acreage and better yields. That second crop is the largest of Brazil’s three corn crops, with harvest about 30% complete.
Total corn production is pegged at 131.974 million tons, 14.3% above a year ago.
Soybean production totaled 169.488 million tons, 14.7% higher than last year, due to a record average yield and larger acreage.
CONAB did make a month-to-month reduction in the corn export outlook due to U.S. competition, while leaving soybean exports just about unchanged, and projecting stronger domestic demand for ethanol and biodiesel usage.
CONAB’s next Brazil crop update is out August 14th.
