Soy innovation challenge Conab Predicts Record Soybean and Corn Harvests in Brazil Argentine Completes Soybean Harvest

Conab Predicts Record Soybean and Corn Harvests in Brazil

Mintec Global
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Conab analysts in their May report raised their forecasts for soybean and corn production in Brazil in 2022/23 due to favorable weather conditions.

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In particular, experts forecast soybean harvest at a record high of 154.8 million tons (+23.3% per year), and corn harvest at 125.5 million tons (+11%). At the same time, analysts raised the forecast for the harvest of safrinha corn, the harvesting campaign of which will begin soon, to 96.1 million tons against 95.3 million tons according to the previous estimate (+12% per year).

In general, according to Conab estimates, the total production of grains and oilseeds in Brazil in the current season may reach 313.9 mln tonnes.

Also, analysts noted that the average yield of all crops in the country in the current year is estimated as the best in the history of observation – 4.048 t/ha, despite the negative impact of the natural phenomenon La Niña.

Taking into account the harvest prospects, Brazil’s soybean exports may reach 95 mln tons, and corn 48 mln tons.

Source: Apkinform

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