Brazil projects record grain harvest driven by corn

The National Supply Company of Brazil (Conab), dependent on the Ministry of Agriculture of that country, estimated for the 2021/2022 season, a grain harvest of 288.61 million tons, 14.2% more than in the cycle previous. Brazilian producers take advantage of the good humidity accumulated during September and the abundant rains registered so far in October to advance with the first corn and soybean plantings. This growth will occur despite drier weather than normal derived from meteorological forecasts that give a 66% probability of having a new Niña phase over the region during the October / December quarter, with the possibility of extending its conditions until early fall. (Read: What role do the US, China and Brazil play in the rise in the price of corn?) According to Conab, the superior result is due to an improvement in productivity rather than an increase in the area planted. Indeed, while the general planting intention was projected at 71.53 million hectares, 3.6% above the ...