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.
Brazil's government food supply agency Conab forecast record soybean output of 90.03 million tons, near the top of its previous forecast of 87.9 million to 90.2 million tons, as farmers finish planting new fields.
Brazil's coming 2013/14 grains and oilseeds harvest has been estimated between 192.4 and 196.6 million tons with an increase in the range of 3% to 5.3% over the previous crop which reached 186.8 million tons.
Brazil’s soybean production has reached record levels this season which could make the country the world’s leading producer but port congestion and lack of storage capacity are impeding exports of soybean as producers fear losing international markets.
North-east Brazil is suffering its worst drought in decades, threatening hydro-power supplies in an area prone to blackouts and potentially slowing economic growth in one of the country's emerging agricultural frontiers.
Brazil latest harvest (2010/2011) should reach 162.9 million tons of grains and oilseeds establishing a new record according to the latest release by the National Supplies Company, Conab.
Brazil will harvest this year a record crop of 158.7 million tons, 6% higher than last year’s 149.7 million tons, according to the latest release from the country’s Geography and Statistics Institute, IBGE.