A report on the Brazilian grain crop for January 2021, released by Conab (National Supply Company), noted that corn planting should decline 1.5% when compared to the last season. However, that percentage represents an increase in relation to the prospects of December 2020, which estimated a decline of 2.1%. “For the 2020/21 harvest, the total production is about 102.3 million tons, a decline of 0.3% when compared to November forecast. The adjustment is due to possible yield reductions for the first harvest estimated by Conab, pondering on climatic changes in Brazilian South Region. Also, the report maintained the same estimate for domestic consumption at 68.7 million tons for the 2019/20 harvest and 71.8 million tons for the 2020/21 season. On the other hand, Conab has broadened projections for corn imports from 1.1 million tons to 1.3 million. Regarding the closing stock, it is expected a total of 7.3 million tons, which represents a reduction of 32.4% in relation to the last harvest.
Source: Noticias Agrícolas
*Translated by Ia Niani