Jul 12, 2024
Conab Increases 2023/24 Brazil Corn 1.71 mt to 115.85 Million
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
In their July Crop Report, Conab increased their estimate of the 2023/24 Brazil corn crop by 1,71 million tons to 115.85 million. For soybeans, Conab left their estimate essentially unchanged at 147.33 million tons.
The 2023/24 Brazil soybean acreage is estimated at 46.02 million hectares (113.6 million acres), which is up 42,000 hectares from last month and up 4.4% compared to last year. The soybean yield is estimated at 3,202 kg/ha (47.7 bu/ac), which is down 8.7% compared to last year. The soybean production of 147.33 million tons is down 4.7% compared to last year's production of 154.60 million tons or down 7.2 million tons.
Corn production in Brazil continues to creep higher. Brazil's corn production is now estimated at 115.85 million tons, which is up 1.71 million from last month. Even with the increase, corn production in Brazil in 2023/24 is down 12.2% or 16.0 million tons compared to 131.89 million produced I 2022/23.
The safrinha corn crop is now estimated at 90.00 million tons, which is up 1.89 million compared to a month earlier. The safrinha corn acreage was increased 47,000 hectares compared to a month earlier to 16.19 million hectares (39.9 million acres). Even with the increase, the safrinha acreage is still down 5.8% compared to last year. The safrinha yield is now 5,556 kg/ha (88.3 bu/ac), which is up 1.6 bushels from last month.
Brazil's first corn crop is estimated at 23.44 million tons and the third corn crop is estimated at 2.40 million tons.
Brazil's first corn crop now represents 20.2% of the total corn crop with the safrinha representing 77.6% and the third crop representing 2.0%.