The Brazilian Institute of Geography and Statistics (IBGE) expects Brazil to harvest a record amount of corn this year. With an increase of 8.7% from 2022, the expected national corn production was 119.8 million tons. About 27.9 million tons of corn should be harvested for the first crop, an increase of 9.7% over 2022. There was a 2.8% decrease from the original prediction, though. Second-crop corn production is expected to reach 91.9 million tons, up 8.4% from 2022 but down 0.9% from the prior forecast. Despite the fall, the 2023 corn crop is likely to total 299.7 million tons, an increase of 13.9% from 2022 and 0.5% from predictions made in February.
Sources: Reuters/Nova Cana (*Translated by Ia Niani)