Conab cuts Brazil's 2019-20 corn output estimate by 0.4% to 100.08 mil mt

Brazil's corn production projection was cut to 100.08 million mt for 2019-20 from the February forecast of 100.5 million mt, national agricultural agency Companhia Nacional de Abastecimento (Conab) said in its monthly survey.

In 2018-19, corn output in Brazil totaled 100.05 million mt.

Dry weather conditions in southern Brazil, especially Rio Grande do Sul, has led to downward revision of Brazil's first corn output.

The first corn output estimate for Brazil was reduced to 25.56 million mt in 2019-20 from a prediction of 26.06 million mt last month, while the second corn crop projection was slightly increased to 73.37 million mt from 73.27 million mt, the report showed.

In Brazil, the first corn crop is planted during September-December and harvested in February-May, while the second, the Safrinha crop, is planted after the soybean harvest in February-March and harvested in June-July.

Conab also cut its estimate for Brazil's 2019-20 ending stocks to 8.0 million mt from 8.4 million forecast last month.

The agency pegged domestic consumption at 70.5 million mt for 2019-20, unchanged from the last month. Corn consumption in Brazil was 65.2 million mt in 2018-19.

Conab also kept its exports forecast unchanged at 34 million mt in 2019-20 as compared with the estimate of 41.17 million mt for 2018-19.