Consultancy Agroconsult lowered its forecast for Brazil's so-called second corn crop to 55.2 million tons on Monday but left its export projection unchanged after a survey of fields in four states affected by planting delays and a drought. Agroconsult had estimated last month that the second crop, which farmers are currently harvesting, would total 57 million tons.
Europe’s decision to ban meat imports from several Brazilian suppliers affects 30 to 35% of the country’s exports to the bloc and will force companies to find new markets while officials work to reverse the measure, Brazil’s Agriculture Minister said.
In their latest monthly report, Conab (National Supply Company) increased their estimate of the 2017/18 Brazilian soybean crop by 1.2 million tons and they slightly increased their Brazilian corn estimate. Conab is now estimating the 2017/18 Brazilian soybean crop at 110.4 million tons which is 1.2 million tons more than last month's estimate (109.1 million tons). If realized, the 2017/18 crop would be 3.6 million tons lower than the 114.0 million tons produced last year (-3.2%).