Brazilian canola goes from an all-time record forecast to 10% below the 2019 harvest

The yield of this year's canola harvest was compromised by last month's frost in the Brazilian state of Rio Grande do Sul, which accounts for 70% of total Brazilian output. The initially forecasted record volume of 53,000 tonnes was revised to just 37,000 tonnes, a figure that is about 10% below the 2019 harvest. This loss will be fully offset by higher market prices, around 90% above the previous year. Even so, it leaves a feeling of frustration in a year that has been marked by record-setting highs in Brazilian agriculture.