Apr 14, 2023

Conab Increased Brazil's Soy Estimate 2.2 mt to 153.63 Million

Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.

In their April Crop Report, Conab increased the 2022/23 Brazilian soybean estimate by 2.2 million tons to 153.63 million. The 2022/23 Brazilian corn estimate was increased 0.2 million tons to 124.87 million.

The 2022/23 Brazilian soybean acreage is estimated at 43.56 million hectares (107.59 million acres) which represents an increase of 5% compared to last year. The soybean yield is estimated at 3,527 kg/ha (52.5 bu/ac), which is up 0.7 bu/ac from last month. Brazil's soybean production is up 22.4 million tons or 22.4% compared to the 125.54 million tons produced in 2021/22.

Brazil's first corn crop is estimated at 27.24 million tons, which is up 0.49 million compared to last month. The corn yield is estimated at 6,189 kg/ha (98.4 bu/ac), which is up 1.2 bu/ac from last month. The first crop corn acreage is estimated at 4.4 million hectares (10.8 million acres), which is down 3.2% compared to last year.

The safrinha corn production is estimated at 95.32 million tons, which is down 0.28 million from last month. The safrinha corn acreage declined 90,000 hectares to 16.9 million (41.7 million acres) while the yield increased 0.2 bu/ac to 5,638 kg/ha (89.6 bu/ac). The safrinha corn acreage is up 3.3% compared to last year and the production is up 11% compared to last year.

The estimate for Brazil's third corn crop was left unchanged at 2.31 million tons. Brazil's total 2022/23 corn production is up 10.4% compared to last year or 11.7 million tons.

Brazil's first corn crop now represents 21.8% of Brazil's total corn production while the safrinha corn crop represents 76.3% of the total and the third crop represents 1.8% of the total.