Brazil: Grain and Feed Update
Link to report:
Post increased its corn production forecast for Marketing Year (MY) 2022/23 to 120 million metric tons (MMT) based on strong demand, increased prices in the domestic and international markets, and diminishing uncertainty over the availability of fertilizers. For MY 2021/22, Brazil’s corn planted area is set to reach new records. Post revised its estimated rice harvest area to 1.62 million hectares for MY 2021/22 because of a decrease in rainfed rice and an increase in cost of production. Post forecasts that Brazil's planted area for wheat for 2022/23 will increase by 18% over 2021/22 to 3.2 million hectares because of the conflict in Ukraine and rising global wheat prices.
