Brazil: Grain and Feed Update
Link to report:
Post raises its corn production estimate for market year (MY) 2019/20 (March 2020 – February 2021) by 3 million metric tons (MMT) to 103 MMT, based on a large expansion of area, especially in the CenterWest state of Mato Grosso, as well as good yields for the safrinha corn crop. Post also increases its corn production forecast for MY 2020/21 (March 2021 – February 2022) to 107 MMT, and corn area is forecast to expand to 19.2 million hectares (MHa). For MY 2020/21 (April 2021 – March 2022), Post raises its forecast for rice area by 90,000 hectares, to 1.72 MHa, in response to record high domestic prices. Post also raises its forecast for MY 2020/21 rice production to 7.4 MMT, consistent with the expanded area forecast paired with a return to trend yields. Post raises its estimate for MY 2020/21 (October 2020 – September 2021) wheat area to 2.33 MHa and the production forecast to 6.6 MMT.
