Forecast for second corn crop in Brazil is raised

INTL FCStone raised their forecast for the second corn crop in Brazil in 2017 by 1 million tonnes up to 67 million tonnes.

The correction was made in connection with the increased areas under corn cultivation in the state of Mato Grosso, that is the largest corn producer in the country.

With the correction of the second corn crop, the total corn crop in Brazil will set a record - 98.68 million tonnes.

In June 2017, in Brazil 457,944 tonnes of wheat were imported, which is 14% less than the record set in June 2016 and is the third result in the last five years. Between January and June, 3.082 million tonnes of wheat were imported to Brazil. 82% of it was delivered from Argentina, 9.4% from Paraguay and around 7% from the United States.