Conab cuts Brazil 2021-22 corn output forecast to 112.3 mil mt

Brazil's corn production in marketing year 2021-22 (February-January) was forecast at 112.34 million mt, national agricultural agency Conab said in its monthly crop survey report, which was down from the 112.9 million mt projected in January,

Brazil's 2021-22 corn crop will be marketed over February 2022 to January 2023.

The reduction in the 2021-22 corn production forecast was primarily due to drought, mainly between November and December 2021, in the southern states of Brazil, which was expected to lower the yield of the first corn crop.

Corn yield forecast for the first corn crop has been cut to 5.39 mt/hectare for 2021-22, from 5.495 mt/hectare in the January report.

The first corn crop in Brazil is planted during September-December and harvested February-May, while the second crop is planted February-March and harvested June-July.

Conab also cut its 2021-22 corn export forecast to 35 million mt from 36.68 million mt.

Brazil is one of the top three exporters of corn in the world.