March 26, 2007

USDA: Brazil's 2007/2008 grain production to remain strong
 

Brazil's grain production is seen to remain stable during the 2007/2008 output as corn harvests will peg at 47 million metric tonnes (MT), only 1 percent behind the 48 million MT from 2006/2007 output, according to the figures released by the US Department of Agriculture from the Brazil Grain and Grain Feed Annual 2007.

The USDA forecast Brazilian corn exports to reach 6 million MT as Brazilian farmers will continue to seize opportunities on the international market.

On the other hand, Brazil's rice imports will reach 750,000 MT while its exports are seen to arrive at 125,000 MT. The continuous contraction in local rice supply is foreseen to have a slight boost to planting area and production in 2007/2008 at 3.1 million hectares and 8 million MT respectively. Imports will also be higher at 900,000 MT in the current trade year.

Wheat imports in 2006/2007 are expected to reach 7.5 million metric tonnes with most of the commodity sourced from the US. Production in TY 2007/2008 is projected to reach 4 million MT to its normal level of 7 million MT due to normal weather conditions and slightly increased planting area due to high prices.

For the full USDA report, please click here.