Jun 14, 2023

Conab Increases Brazil's 2022/23 Soybean and Corn Estimates

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

In their June Crop Report, Conab increased the 2022/23 Brazil soybean estimate 0.92 million tons to 155.73 million. The 2022/23 Brazil corn estimate was increased 0.18 million tons to 125.71 million.

Soybean acreage in Brazil was increased 200,000 hectares from last month to 44.03 million hectares (108.7 million acres). The 2022/23 Brazil soybean acreage continues to increase and it is now 6.1% greater than 2021/22. The nationwide soybean yield is estimated at 3,537 kg/ha (52.7 bu/ac). The Brazil soybean production is up 24% or 30.1 million tons compared to 2021/22.

Brazil's total 2022/23 corn production is now estimated at 125.7 million tons, which is up 11.1% or 12.6 million tons comparted to last year.

Brazil's safrinha corn acreage increased 140,000 hectares from last month to 17.07 million hectares (42.1 million acres) and it is now 4.3% larger compared to last year. The safrinha corn yield is 5,640 kg/ha (89.6 bu/ac), which is down 0.5 bu/ac compared to last month.

Brazil's first corn crop is 27.07 million tons or 21.5% of Brazil's total corn production. The safrinha crop is 96.30 million tons or 76.7% of the total and the third crop is 2.32 million tons or 1.8% of the total.