Prospects for Brazil’s safrinha corn crop are improving
Analysts at Conab in their June report increased their forecast for Brazil’s 2023/24 MY safrinha corn production by 1.96 million tons to 88.12 million tons.
Brazil’s total corn crop in MY 2023/24 is expected to be 114.14 million tons.
At the same time, analysts slightly lowered their previous estimate of Brazil’s gross soybean harvest to 147.37 (-0.32) million tons, down 4.7% from MY 2022/23. As noted, despite the expansion of the planted area under the oilseed, unfavorable weather conditions had a negative impact on crops almost throughout the country.
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