Brazil has been slated for a bumper corn crop this year after drought ravaged the country’s soybeans just months ago and its corn a year ago, but dryness once again threatens to curb the potential of its second crop. Four states are responsible for at least 87% of second corn production, and top grower Mato Grosso just experienced one of its driest Aprils on record. Planting there was quicker than normal this year with close to 90% done by the end of February. The U.S. Department of Agriculture predicts 2021-22 exports at a record 44.5 million tonnes, more than double the previous year. That is assuming a 116 million-tonne full crop, possibly too high given the recent and expected weather. USDA may update that number next week, though any crop reductions could curb exports, too. Brazil’s Conab last month pegged the crop at 115.6 million tonnes.
Sources: Reuters/Datamar News