FAS USDA Forecasts For Brazil

18 Apr, 2017
FAS USDA Forecasts For Brazil
According to the latest FAS USDA forecast, corn yield in Brazil will reach the record 93 mln tons, which is 39% more than the previous season, which was affected by serious drought.

Thanks to the record yield, corn export from the country will reach second best result in history – 32 mln tons versus only 14.2 mln tons last year.

The current biggest Brazilian corn buyers are Iran, Vietnam and Japan. Over the year 2016, these countries' sales share is around 50% of the whole Brazilian export.

Corn areas in Brazil will decrease by 0.1 mln hectares in the new season to 16 mln hectares while the yield will decrease to 85 mln tons  with up to 28 mln tons of export.

FAS USDA expects a decline in consumption and export of Brazilian wheat in 2017 – 2018 (October 2017 – September 2018г.).

Wheat areas in the new season will go down to 2 mln hectares (2,12 mln hectares during 2016 – 2017) as a result of the low wheat prices and high growing costs. Yield will drop to 6.0 mln tons (6.73).

Domestic wheat consumption in Brazil will be 11.0 mln tons (11.5) as a result of the decline in fodder and milling consumption.

Over the year 2016, 366,800 tons of flower were imported in the country including 321,900 tons from Argentina. Over the new season, wheat import as well as its by-products will be 6.5 mln tons (6.7).

Conab analysts have increased their soybean yield in Brazil over the current season by 2.5 mln tons versus the previous season up to 110.1 mln tons. The result will be 14.7 mln tons bigger than the previous season. Corn yield has grown by 2.5 mln tons to the record 91.4 mln tons (+37.5% or +24.9 mln tons). The first corn yield is 29.8 mln tons while the second one is 61.6 mln tons.