Brazil’s exports of corn may reach a record volume of 42 million tonnes in 2022 if the second crop continues in good conditions, allowing the country to harvest record-breaking 113 million tonnes, as indicated by Rabobank this Wednesday (30). The bank also assesses that a severe decline in Brazil’s soybean output and subsequent reductions in oilseed shipments will make room for an early start of Brazilian corn exports, which usually intensify in the second half of the year. Besides, Brazilian corn is being more demanded than it usually is, given that the war has impaired Ukraine’s exports recently, prompting new market trends. “The reduction in the soybean crop and the limitation of Ukrainian corn shipments will bring forward corn exports in Brazil, which should start in May 2022”, highlighted Rabobank.
Sources: Money Times/Datamar News