According to the consultancy firm Safras & Mercado the 2021-22 corn harvest in Brazil may exceed current estimates due to favorable weather and a larger planted area than initially predicted, increasing supply at a period of heightened demand due to the conflict in Ukraine. The consultancy firm estimates that second harvest yields in the center-south of Brazil will total 83.3 million tonnes, up 44% from the previous cycle, when the country suffered the effects of drought and frost. With a larger crop, the country could export 34.5 million tonnes of corn in 2021/22, up from 20.8 million in the previous season. Molinari cited that Brazilian cereal exports responded to increased international demand in the face of decreased Ukrainian exports. Under these circumstances, shipments could reach up to 2 million tonnes in March, April, and May.
Sources: Money Times/Datamar News