Brazil’s soybean exports are expected to come in 14-18% down on the year in 2019 due to lower production and reduced buying by China, industry reports showed.
The Brazilian 2018-19 soybean crop will fall to 115.34 million tons, as the effects of hot and dry weather in December and January are gradually taken into account, national crop agency Conab said on Tuesday.
Brazilian food supply and statistics agency Conab has reported that Brazil’s coffee production is expected to decline in 2019 to between 50.48 and 54.48 million bags. Conab attributes the 11.5 to 18% drop from the 61.65 million bags the agency reported for the year prior to Brazil’s coffee plants recovering from an increased output in 2018, which is affecting Arabica in particular.
Analysts are casting doubt on the Brazilian government’s soybean production estimate. Conab, the government’s food supply and statistics agency, recently issued a forecast for 118.8 million tons of production, only slightly smaller than last year’s record 119.4 million tons.
Brazil’s National Supply Company (Conab) has released its monthly report this week, and it projects that the country will produce 119.4 million metric tons. Last season, the country produced 119.2 million metric tons. The surface would jump from 86.7 million acres to 89.2 million acres.
Brazil will harvest 87.28 million tons of corn in the 2017-18 season, federal government crop agency Conab said in a monthly report, down from 88 million tons in its February report. The 2016-17 harvest was 97.84 million tons.
Brazil and Argentina production estimates are going up, but hailstorms ruined soybean and corn crops in Argentina’s Santa Fe Province. However, La Niña is forecast to be relatively mild this year, according to NOAA forecasters.
Brazil raised estimates for both its corn and soybean harvests, citing rains which had come in time to boost yields of later planted crops, besides boosting expectations for safrinha corn. The official Conab crop bureau lifted by 1.0m tons to 94.3m tons its estimate for Brazil's soybean production in 2014-15, as late rainfall helped results surprise positively in particular in central areas.
Brazil's sowings of safrinha corn are to fall for the first time in seven years, Conab (National Supply Co.) said, cutting its forecast for the country's overall production of the grain, and lowering hopes for the soybean harvest too.
Weeks of drought and heat have hit Brazil's soy and corn production, but the agriculture ministry still predicted a record 2014 harvest. Corn production is set to total 75.5 million metric tons, down from a January estimate of 79 million, state food supply agency Conab said in its monthly report.