Source: APKinform (Ukraine)
Analysts at Conab have raised their forecast for corn production in Brazil in MY 2024/25 – from the previously expected 119.6 million tons to 122 million tons, which is also 5.5% higher than the result of the previous season.
Specifically, the country’s first-crop cereal production is expected to be 23.6 million tons, thanks to a 9.9% annual average yield increase, despite a 6.6% reduction in planted area.
Production of safrinha maize is expected at 96 million tons, with the planted area expected to expand by 2.4% per year (currently planted 18.8% of the plan area) and average yields expected to increase by 6.4%.
As for exports, it is worth noting that Conab analysts lowered this figure for corn to 34 million tons, given the constant growth in domestic demand and, consequently, lower sales on the international market. Domestic demand for grain in 2024/25 MY is estimated at 86.9 million tons.
Analysts also lowered the forecast for soybean production in Brazil – from the previously expected 166.33 million tons to 166 million tons (+18.3 million tons per year).