In this morning's World Supply & Demand Report, USDA raised its 2011-12 Brazilian corn production estimate by 5 million metric tons (MMT) from last month to a record 67 MMT. The agency increased the second-season (safrinha) corn crop area by 400,000 hectares, as well as its yield forecast to recent improvement in the weather.
"Below-average rainfall in the south from November through February reduced main-season corn production to approximately 36 MMT, but main-season drought losses should be fully compensated with a record second-season forecast of approximately 31 MMT, or 46% of total output," it says. "Over 70% of the second-season corn crop is in the pollination and grain-filling stages, with the development most advanced in the states of Paraná and Mato Grosso where harvest will begin soon. Second-season output is expected to reach record levels in Paraná and Mato Grosso with states producing approximately 10.0 and 11.7 MMT, respectively."
- European Union Wheat: Dryness and Winterkill Reduce Prospects
- European Union Rapeseed: Area and Production Forecast Down from Last Year
- Ukraine Wheat: Forecast Production Down Sharply From Last Year Due Mainly to Fall Drought
- Russia Grain: Historical Area Estimates Revised
- Canada Rapeseed: Seeded Area Forecast at a Record High
- China Cotton: Area and Production Forecast Down by 9 Percent
- Brazil Soybeans: 2011/12 Harvest Nearly Complete