Brazil: Greater corn production raises exports to 47 million tons

Published 2023년 3월 1일

Tridge summary

Brazil is expected to reach a record corn production of 130.6 million tons in 2022/23, according to StoneX. The financial services group has increased its export estimate to 47 million tons. Despite weather challenges, the first crop production estimate remains at 27.55 million tons. The second crop has been revised up by 0.7% to 100.8 million tons. However, the production estimate for Goiás has been reduced to 12.5 million tons due to a smaller planted area. The more favorable outlook for Mato Grosso offsets this reduction, with its production estimated at 46.7 million tons.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

With the new possibility for Brazil to reach a record production of 130.6 million tons of corn in 2022/23 considering the three harvests, StoneX hopes that the country will be able to expand its cereal shipments. The group raised its export estimate by one million tonnes to 47 million. Closing stocks advanced marginally to 14.09 million tons, which represents a stock/use ratio of 11%. Regarding the first corn crop 2022/23, StoneX maintained its production estimate at 27.55 million tons. Despite the weather adversities faced in recent months, especially in Rio Grande do Sul, a supply above that recorded in 2021/22 is still expected. The second 2022/23 crop of the cereal received another positive revision, of 0.7% compared to the February number, reaching 100.8 million tons. Due to the expectation of an area smaller than previously expected, the production estimate for Goiás was reduced to 12.5 million tons. On the other hand, this cut was offset by a more favorable perspective for ...

Source: Opresenterural