Brazil lowers corn production forecast for 2020-2021

Brazil is the world's second-largest exporter of corn, after the United States, the website of the S.P. Global Platts reported on December 10.
forecasts from Conab show that the first quarter of corn was planted in a lower area than previously forecast, as dry weather in the southern region affected corn seeding and field growth, and farmers switched to soybeans in some places.
, Conab cut brazil's 2020-2021 corn production forecast by 2.2 percent to 102.6 million tons from 104.9 million tons in November. the
report showed that the first quarter's expected corn production was 24.2 million tons, down 8.7 percent from the previous forecast and 5.8 percent from the previous forecast, while the second quarter's expected corn production was 76.76 million tons, in consistent with the previous forecast and up 2.3 percent from the previous forecast.
Conab forecasts that in 2020-2021, Brazil will plant 18.44 million hectares of corn, a decrease of 0.5% YoY; The last forecast was consistent, with 500,000 tons more than the previous year, domestic corn consumption of 71.83 million tons, up 4.6% year-on-year, and year-end inventory of 7.4 million tons, down 30.3% year-on-year, which will be the lowest since 2015-2016.
。