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Conab cuts Brazil 2020-21 corn output estimate marginally to 102.3 million mt

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Conab cuts Brazil 2020-21 corn output estimate marginally to 102.3 million mt

New Delhi — Brazil's corn production forecast for 2020-21 has been cut to 102.313 million mt from 102.589 million mt projected in December, Brazil's national agricultural agency Companhia Nacional de Abastecimento (Conab), said in its latest forecast Jan. 13.

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"The (downward) revision (of production) is due to the possible reductions in yield of the first corn harvest estimated by Conab due to adverse weather conditions in the Southern region," Conab said.

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

Conab has kept the forecast for 2020-21 corn exports and consumption largely unchanged from December.

Brazil is the third-largest corn exporter in the world following the US.

Production

102.515

102.589

102.313

First corn production
25.69
24.2
23.91
Second corn production
75.05
76.76
76.76

Consumption

68.663

71.827

71.827

Exports

34.500

35.000

35.000

Ending stocks

10.842

7.404

7.328