Brazil's government CONAB, (National Supply Company) anticipated that the 2022/23 grains and oil seeds harvest would reach 308 million tons, given the good performance and strong international demand for corn, soybean, rice, beans and cotton.
Warehouses in Brazil are still full of soybeans, harvested just a few months before corn. In the state of Mato Grosso, soybean production was high this season, but at the same time sales are slower than usual, leaving warehouses with no space for corn, according to Cleiton Gauer, superintendent of the Mato Grosso Institute of Agricultural Economics (IMEA).
Given more optimistic prospects for the supply of corn and wheat, Brazil's National Supply Company, Conab, increased, slightly, the estimate for the 2021/22 market year grain harvest. Overall this has meant that Brazil is expected to have a crop of 272.5 million tons of grains in the current season, 6.7% greater than the previous season.
Brazil's National Supply Company, Conab, anticipated forecasts for the coming grains and oilseeds season 2021/22. The soy crop is expected to reach some 141,26 million tons or a 3.9% increase over the current harvest.
Brazil should collect more than 300 million tons of grain by the 2024/25 harvest, three seasons earlier than initially planned, according to new projections by the Ministry of Agriculture. The previous forecast was to reach the target in the 2027/28 cycle.
Brazil's 2019-20 grains and oilseeds harvest reached a 258mn t record as total acreage increased and yields performed well, despite some unfavorable weather conditions throughout the year.
Brazil's National Supply Company (Conab) said the current wheat crop (2019/20) has the potential to be a record. As a result, Brazilian cereal imports should fall. The agency believes that production should reach 6.8 million tons, 21.2% more than in the previous harvest.
Brazilian soybean production is expected to increase some five million tons in the 2020/21 harvest to a record 130,5 million tons, according to Daniel Amaral, chief economist of the Brazilian Association of Vegetable Oil Industries (Abiove). Based on this crop oilseed exports could reach 80 million tons in 2021, while domestic crushing could reach a new annual record of 45 million tons.
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.