Nov 10, 2022
Conab Increased Soy Production 1.15 mt, Lowers Corn 0.55 mt
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
In their November assessment of the 2022/23 crop production in Brazil, Conab increased the soybean production 1.15 million tons from 152.35 million in October to 153.50 million in November. For corn, Conab lowered the 2022/23 production 0.55 million tons from 126.94 million in October to 126.39 million in November.
Conab increased the 2022/23 soybean acreage in their November report by 350,000 hectares (864,500 acres) to 43.24 million hectares (106.8 million acres), which represents an increase of 4.2% compared to the previous crop. The soybean yield is now estimated at 3,551 kg/ha (52.9 bu/ac), which is essentially unchanged from last month. If this estimate is verified, it would represent an increase of 22.3 million tons or 17.3% compared to 2021/22.
For the Brazilian corn crop, the lower monthly estimate was the result of a lower first corn crop. The first crop corn acreage was lowered 80,000 hectares (196,600 acres) to 4.40 million hectares (10.86 million acres) and the yield was lowered slightly to 6,384 kg/ha (101.5 bu/ac). The first crop corn acreage is now down 3.1% compared to last year.
The safrinha corn acreage was left unchanged at 17.25 million hectares (42.6 million acres) and the yield is estimated at 5,580 kg/ha (88.7 bu/ac). The safrinha corn acreage is up 5.4% compared to last year. The production estimate for Brazil's third corn crop was left unchanged.
The first crop corn production is estimated at 28.15 million tons (22.2% of Brazil's total corn production) with the safrinha corn crop estimated at 96.27 million tons (76.1% of Brazil's total corn production). The third corn crop is estimated at 1.97 million tons (1.5% of Brazil's total corn production).
A corn production of 126.39 million tons would represent an increase of 13.5 million tons or 12% compared to 2021/22.