Corn yield is down by 26% to 63.4 mln tons compared with 2015. In spite of the grain yield drop, wheat production grew by +22% to 6.7 mln tons. Grain import in Brazil will be 10.3 mln tons (+39%) in the season March - February of 2016 - 2017, which is a record high level. Corn import will grow up to 2 mln tons while wheat import will reach the highest level since 2012 – 7 mln tons.

AgRural analysts projected higher soybean production in Brazil in 2016 – 2017 of 103.3 mln tons compared with 105.4 mmln tons in the previous forecast. Changes came as a result of the favourable weather conditions in the state of Mato Grosso, which will boost crop growth, as well as the intensified harvesting campaign.  

Informa Economics analysts updated their forecast on corn yield in Brazil and Argentina. Yield in Brazil will be 89 mln tons (+2 mln upon the previous forecast) while yield in Argentina will be 35.2 mln tons (-0.8). Soybean yield in Argentina will be 55 mln tons (0) while soybean yield in Brazil will be 106.5 mln tons (+1.5).