Production of the 1st 2022/23 corn harvest should be 15% higher than 2021/22
Although there is an expectation of a slight reduction in the area planted with corn in the next season, throughout the Brazilian territory, which should lose space for soy mainly in the South and Southeast, production in the 1st 2022/23 harvest should reach 30.3 million tons, 14.8% higher than expected for the previous cycle, according to the first estimate released by StoneX on Monday (01).
On the other hand, considering normal climatic conditions, it is believed that the country can obtain an average profitability close to 7 t/ha, a higher number than the first 2021/22 harvest, marked by climatic adversity in the Southern region.
2021/22 Season
StoneX once again revised its production estimate for the 21/22 winter harvest to 93 million tons, an increase of 2.5% compared to the figure released in early July. The positive adjustment resulted from more favorable prospects for productivity in Mato Grosso do Sul, as well as increases in planted area and average yield in Mato Grosso.
"Despite having experienced some moments of uncertainty throughout the season, in general the climatic conditions were favorable for the development of the second 21/22 harvest, with the harvest occurring at a faster pace than that observed in recent years and moving towards a record production," explains analyst João Pedro Lopes.
In relation to the 3rd 21/22 corn harvest, no changes were made, and production is still estimated at 2.2 million tons.
Adding up the expected figures for all three harvests, total production in 21/22 would be 121.6 million tons, compared to 119.3 million tons in the previous report
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