StoneX has released forecast for the 2022/23 season, which starts in April. The figures are more positive than the current crop, according to the entity. Forecasts point to the continuity of favorable humidity, mainly in the state of São Paulo, which concentrates most of the sugarcane production in Brazil. Regular rains helped estimates increase by 2.2% for crop yield for the next season. Sugarcane planting area in the 2022/23 cycle is likely to remain similar in relation to the current season, at around 7.7 million hectares. StoneX projects that the 2022/23 crushing will remain constant in relation to the publication of November last year, at 565.3 million tons 7.3% than the current cycle.
Sources: StoneX/Jornal Cana (*Translated by Ia Niani)