July 9, 2020
Brazil's national agricultural agency drops corn production estimate for 2019 / 2020
Brazil's Companhia Nacional de Abastecimento (Conab), the national agricultural agency has lowered its projections for corn production for the 2019 / 2020 season from 100.99 million tonnes to 100.56 million tonnes, S&P Global Platts reported.
Brazil's corn production in 2018 / 2019 was 100.04 million tonnes.
The Conab report said the first Brazilian corn crop production was increased to 25.57 million tonnes in 2019 / 2020, while estimates for the second corn crop dropped from 74.23 million tonnes to 73.53 million tonnes.
The first corn crop in Brazil is planted during September to December, harvested in February and May. The second crop is planted February to March, harvested in June to July.
Conab said the second harvest is happening now, with with 27% of planted corn crop harvested.
Conab's production estimate drop was because of irregular rainfall and drought to some major corn growing areas of Brazil.
Despite the reduced estimate, corn production will reach a record high as the lower yield is offset by a higher planted area.
Conab maintained its export estimates of 34.5 million tonnes for the 2019 / 2020 season, referring to February 2020 to January 2021. Last 2018 / 2019 season, Brazil exported 41.07 million tonnes, a record.
- S&P Global Platts