The purchases of corn seeds in Brazil for the 2024 off-season are 42 percentage points behind schedule

Published 2023년 10월 17일

Tridge summary

Brazil's corn production is projected to decrease in 2024, with a reduction in both planting hectares and tonnage. The drop in corn prices and the high exchange rate are discouraging producers, leading to slow seed purchases and a standstill in input business. However, there is still a chance to reverse the situation, as some input prices, like urea, have improved.

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

Original content

In 2023, Brazil planted 17.179 million hectares with corn in the second harvest, which resulted in a production of 102.179 million tons, according to data from the National Supply Company (CONAB). For 2024, the same Conab estimates a planting of 16.403 million hectares and a production of 91.271 million tons, reductions of 4.5% and 10.72% respectively. This scenario reflects the Brazilian producer's discouragement regarding the cultivation of corn in this next cycle, as explained by the Agribusiness Consultant at Terra Agronegócios, Ênio Fernandes. “Conab shows a reduction in the planting projection for summer corn and off-season corn. The producer is very discouraged, sales of off-season corn seeds are very bad in Brazil and sales of nitrogen for this second harvest are very bad”, says Fernandes. In the view of Market Analyst at Brandalizze Consulting, Vlamir Brandalizze, this movement is explained by the drop in corn prices from one year to the next, which took producers out of ...

Source: NoticiasAgricolas