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Adding the expected numbers for the three Brazilian corn harvests, StoneX calculates total production at 87.14 million tons in the 2020/21 cycle (compared to 87.9 million tons indicated by the group in the previous report). This new estimate for total production is the lowest since 2017/18, when 80.7 million tons of cereal were harvested.
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For the 2nd corn harvest 2020/21, StoneX revised the number again with another production cut, which fell from 60.5 to 59.6 million tons. “The cut of more than 800 thousand tons resulted from an expectation of lower productivity in São Paulo, Minas Gerais and Mato Grosso do Sul, highlighting that the latter state, together with Paraná, were the most affected by frosts in the last month”, explained, in a report released this Monday (02).
For the Southeast, it is noteworthy that the progress of the 2nd harvest has shown that the impacts of the water deficit on cereal yields were greater than previously expected.
For the 3rd harvest, the group made a small cut in its production estimate, to 1.74 million tons, against 1.78 million in the previous report. The review was motivated by a contraction of the same volume in production in Bahia.
Source: Notícias Agrícolas
