According to the latest estimates, Brazilian grain production is expected to reach 295.591 million tons during the 2023-24 harvest. However, this represents a 7.6% decrease from the previous cycle’s outcome. The primary reason for this decline is the projected 7.1% decrease in average production, which is now expected to be 3,784 kg/ha instead of 4,072 kg/ha. In addition, soybean exports are expected to decrease by 1.83 million tons, from 94.16 million tons to 92.33 million tons. The estimated number of imports has been raised from 200,000 to 800,000 tons. The forecasts for rice and corn, on the other hand, remain unchanged.
Sources: Conab/Canal Rural (*Translated by Ia Niani)