Brazilian farmers are expected to harvest 100.5 million tons of corn in the second harvest of the 2023/24 cycle, according to Agroconsult, an increase from the previous estimate of 96.7 million tons. The harvest is progressing, with over 60% completed in Mato Grosso and 53% in Paraná. This estimate indicates a smaller-than-expected drop of 9.9% from last year’s record harvest. The planted area has increased to 16.7 million hectares, with average productivity at 100.6 bags per hectare, a 5.2% decrease from last season. Corn exports are projected to fall by 23% to 42.1 million tons due to weaker demand from China and competition from Argentina.
Source: Nova Cana