CONAB cuts Brazil corn yield forecast

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CONAB cuts Brazil corn yield forecast

2015-11-11 10:33 |
source: China Grain Network |
zhongda

u.S. officials said a larger-than-expected drop in Argentine corn production would lead to an eight-year low in exports, despite positive election prospects.

The Commodity Supply Company (CONAB), a subsidiary of Brazil's Ministry of Agriculture, released a monthly report, predicting that Brazil's corn production in 2015/16 will be reduced to 81.1 million to 82.7 million tons, lower than the 8260 to 83.6 million tons predicted in October, and up to 4.2 percent lower than the 85.5 million tons in 2014/15.

CONAB said that because corn planting income is not as good as soybeans, farmers will be corn farmland to relay soybeans, resulting in a decline in Brazil's corn planting area and production.

Brazilian farmers start planting corn for 2015/16 in September and the planting season lasts until December. Most of the corn will be harvested between January and April. The corn year in Brazil begins in July each year.