Brazil Latest

Posted by Nogger - a legend in his own mind at 11:52 | Categorized as

04/04/12 -- Brazil's corn crop could end up coming in higher than it's soybean crop this year, according to Agroconsult's lead analyst.

Citing hopes for an increase in planted area and better yields from second crop corn the South American analysts have raised their Brazilian corn crop estimate to 64.6 MMT from the 63.7 MMT it projected in March.

Meanwhile, estimates for soybean production potential keep falling with Agroconsult now forecasting output at 65.2 MMT, some 3.3 MMT below where the USDA currently line up.

Enthused by high prices, Brazilian farmers are already eyeing an increase in soybean plantings for 2012/13 to a record 26.2 million hectares, they say. That's up 4% on this season and 2 million hectares, or 8%, more than the 2010/11 area that produced the country's record 75.5 MMT crop.