Brazil expecting record grain production

 Benefiting from optimal weather conditions, Brazil’s grain harvest in the 2024-25 marketing year is expected to increase by 8% compared to the previous year, according to the National Supply Company’s (Conab’s) recently released forecast. It projected a record output of 322.3 million tonnes.

In addition, the total sown area is estimated at 81.4 million hectares, a projected increase of nearly 2% compared to 2023-24.

Soybean production is expected to reach 166.3 million tonnes, up nearly 19 million tonnes from the previous harvest. With the recovery in the soybean harvest for this cycle, Conab projects an increase in exports in 2024-25, reaching 105.4 million tonnes. Exports of soy meal are pegged at 22 million tonnes, while 1.4 million tonnes of soy oil are forecast to be shipped.

A record corn harvest also is anticipated by conab, with production increasing by 3% over 2023-24 to 119.6 million tonnes. It said a significant increase in yield will offset a 6.4% reduction in planted area in the first harvest. The planting of the second and third harvests of the grain will begin this month and in April, respectively.

Corn exports are projected to decline by 4.5 million tonnes from 2023-24 to 34 million, Conab said.

“With the increase in production, stocks will recover and close at 3.5 million tonnes, guaranteeing domestic supply, especially for the animal protein sector,” Conab said.

Rice acreage is forecast to rise by 8.5% in 2024-25 to 1.75 million hectares while production is seen increasing by 13% to nearly 12 million tonnes, Conab said.

Projected lower is wheat production at 7.89 million tonnes, 2.6% below last year’s harvest, mainly caused by the 14.2% reduction in the planting area in the states of the South region, combined with unfavorable weather throughout the crop cycle in Paraná and in the Southeast and Central-West regions.

Tags: corn, Brazil, crop forecast