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Brazil's 2021-22 corn output forecast at record 116.3 mil mt: Conab

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Brazil's 2021-22 corn output forecast at record 116.3 mil mt: Conab

Highlights

Corn use seen higher on year at 73.68 mil mt in 2021-22

Corn exports seen rising to 39 mil mt in 2021-22

Brazil's total corn production is forecast at a record 116.31 million mt for 2021-22, up 33.7% year on year, the country's national agricultural agency Conab said Oct. 7.

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

The expected increase in the country's corn output in 2021-22 is primarily due to a rise in yield, Conab said in a report.

Conab sees Brazil's corn crop yield rising by 27.7% year on year to 5.575 mt/hectare in 2021-22, while area is seen up 4.7% year on year at 20.865 million hectares.

In 2020-21, corn crops were hit severely by drought that negatively affected production.

Brazil's corn consumption is seen rising to 73.68 million mt in 2021-22, from 70.93 million mt estimated for 2020-21, the report said.

Brazil's corn exports are also seen recovering in 2021-22 to 39 million mt, from 22 million mt forecast for 2020-21.

Currently, first corn crop planting is underway in Brazil.

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

Brazil is usually the second-largest corn exporter in the world after the US.

Brazil corn supply and demand

2019-20 (mil mt)

2020-21 October estimate (mil mt)

2020-21 September estimate (mil mt)

2021-22 October forecast (mil mt)

Production

102.586

86.998

85.749

116.313

First corn production

25.69

24.744

24.744

28.327

Second corn production

75.053

60.719

59.472

86.319

Consumption

68.663

70.934

70.856

73.677

Exports

34.893

22.00

22.00

39.00

Ending stocks

10.602

6.965

5.795

11.501