AGROCONSULT RAISES FORECAST FOR BRAZIL’S SECOND CORN HARVEST AFTER EVALUATIONS IN THE RALLY

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