March 13, 2024
Brazil's wheat crop expected to be 9.2 million tonnes in 2024/25
Brazil's 2024/25 wheat crop is estimated to be at 9.2 million tonnes, a 14% increase from the 8.1 million tonnes estimated for the previous year, consultancy firm StoneX said on March 6.
It was the first estimate StoneX released for the country's next wheat crop, which has yet been planted in Brazil's main regions.
StoneX attributed the expected growth on a higher yield despite a smaller planting area. Planting area was seen falling 11%, StoneX said, highlighting an expected drop in the southern region where most of the nation's wheat production is concentrated.
The consultancy firm added that farmers' decision to reduce planted area is based on factors such as lower yields in the previous crop, a seed shortage, domestic prices rising less than expected and some competition with the second corn crop.
StoneX expects the wheat crop yield in Brazil to grow 3.02 tonnes per hectare in the 2024/2025 crop, from 2.34 tonnes per hectare in the previous year.
- Reuters