Aug 22, 2023
2022/23 Brazil Corn Estimate Unchanged at 133.0 Million Tons
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
The 2022/23 Brazil corn estimate was left unchanged this week at 133.0 million tons and I have a neutral to slightly higher bias going forward.
The Brazilian safrinha corn crop was 77% harvested as of late last week compared to 89% last year and 85% average. This represents an advance of 5% for the week. Wet weather has slowed the corn harvest in Parana, southern Sao Paulo, and parts of Mato Grosso do Sul.
If the corn harvest in Parana continues to be slowed by wet weather, it could start to interfere with the early soybean planting which is scheduled to start on September 11th.
Brazil's 2023/24 First Corn Crop 4.6% Planted - AgRural reported that Brazilian farmers had planted 4.6% of their first corn crop as of late last week compared to 1.8% last year. Warmer-than-normal temperatures and adequate soil moisture encouraged farmers to start planting corn, especially in the states of Rio Grande do Sul and Santa Catarina.