Brazilian corn exports will fall by half this season, as adverse weather hurt the country’s crop and export prospects, according to a projection by grain exporter group Anec released this week.
In a presentation, Luciano de Souza, president of Anec’s board of directors, said Brazil was forecast to sell 17 million tonnes in export markets in the current cycle, down from 34.8 million tonnes in the last.
If confirmed, corn exports would be below the level from the 2015/2016 cycle, when Brazil exported 18.8 million tonnes of corn, Anec data showed.
In fresh projections for next season’s soybean crop, Anec estimated 144 million tonnes of total production as farmers plan to increase planted area beginning in September, when sowing will begin in some states.
As a result, exports of Brazilian soybeans are also expected to rise to 94.3 million tonnes next season as supplies increase, Anec said.
In the current cycle, Brazil will export an estimated 86.5 million tonnes of soybeans. Output this year was 137 million tonnes, according to Anec’s data for the 2020/2021 cycle.
Source: Reuters (Reporting by Ana Mano; Editing by Sandra Maler)