Brazil’s corn crop forecast lowered to 122.3 mln tons
Consulting company AgResource has lowered its estimate of Brazil’s corn harvest in the 2024/2025 season from 123.56 million tons to 122.39 million tons.
The lower forecast is due to a delay in the soybean harvest. The second corn crop is planted after soybeans in the same fields and accounts for about 70-75% of Brazil’s annual corn production. A delay in the soybean cycle could shorten the planting window for the second corn crop.
Brazilian farmers have already threshed 0.3% of the soybean area, down from 2.3% a year ago. Fieldwork has been hampered by recent rains in parts of central Brazil. In the leading agricultural state of Mato Grosso, farmers are harvesting soybeans at the slowest pace in seven years.
AgResource also raised its soybean crop forecast slightly to 172.07 million tons from 170.04 million tons.
“The risk of La Niña has returned and its effects could impact soybean crop quality, especially for late varieties,” AgResource said. “However, the arrival of rains in central-northern Brazil could help offset potential losses in other regions.”
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