BRAZIL’S 2024/25 CORN PRODUCTION REVISED UPWARDS

Hedgepoint revised Brazil’s 2024/25 corn harvest estimate to 138.2 million tons, up 3.7 million from the previous forecast, driven by high yields and expanded area in the Center-South region. The second “safrinha” crop benefited from favorable weather despite delayed sowing, with Paraná, Mato Grosso do Sul, Mato Grosso, and Goiás surpassing 100 bags per hectare. Harvesting is nearly complete, with 97% of the second-crop already collected, although sales are slower than in previous years, with only 43% sold by early August. On the demand side, corn consumption for ethanol is rising sharply, with an estimated 23.7 million tons needed this season versus 17.4 million tons last year. Export shipments, delayed by the late harvest, are now accelerating, and September already shows significant export volumes, indicating a strong supply availability for domestic and international markets.
Source: Revista Cultivar