May 12, 2023
Conab Increases Soy 1.18 mt to 154.8 Million, Corn Up 0.66 to 125.5
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
In their May Crop report, Conab increased the 2022/23 Brazilian soybean estimate by 1.18 million tons to 154.8 million. The soybean estimate was increased due to increased acreage and a slightly higher yield compared to last month. Conab increased the 2022/23 Brazilian corn estimate by 0.66 million tons to 125.5 million. The corn estimate was increased due mainly to higher yields for the safrinha corn.
The 2022/23 Brazilian soybean acreage was increased 270,000 hectares compared to April to 43.83 million hectares (108.26 million acres). The soybean acreage is now up 5.2% compared to 2021/22. The soybean yield increased slightly to 3,532 kg/ha (52.6 bu/ac). The nationwide soybean yield is now up 16.7% compared to the drought plagued crop of 2021/22. The 2022/23 Brazilian soybean production is up 23.3% compared to last year or 29.3 million tons.
Brazil's first corn crop is estimated at 27.04 million tons, which is down 0.2 million tons compared to last month. The first corn crop acreage was down slightly from last month to 4.35 million hectares (10.74 million acres). The 2022/23 first corn crop acreage is now down 4.2% compared to 2021/22. The yield of the first corn crop was up 0.28 bu/ac from last month to 98.6 bu/ac.
Brazil's safrinha corn is estimated at 96.13 million tons, which is up 0.81 million compared to last month. The safrinha corn acreage was up 30,000 hectares from last month to 16.93 million hectares (41.81 million acres). The safrinha corn acreage is now up 3.5% compared to last year. The yield of the safrinha corn was up 0.60 bu/ac compared to last month to 90.2 bu/ac. The 2022/23 safrinha corn production is up 11.9% compared to last year or 10.2 million tons.
The third corn crop in Brazil is estimated at 2.34 million tons, which is up 0.03 million tons from last month.
Brazil's total 2022/23 corn production is up 11% compared to 2021/22 or 12.4 million tons.
The first corn crop in Brazil (27.04 million tons) now represents 21.5% of the total, the safrinha corn crop (96.13 million tons) represents 76.5% of the total, and the third crop (2.34 million tons) represents 1.8% of the total.