SÃO PAULO, BRAZIL — Brazil is projected to harvest a larger second corn crop this year as timely rainfall has lessened the severity of drought in the South American country, according to Reuters, which cited an Agroconsult report released on June 21.
Agroconsult’s latest projection sees this year’s second corn crop at 89.3 million tonnes, up from its forecast of 87.6 million in May.
The second corn crop, which is planted after soybeans are harvested in the same areas, will account for nearly 80% of the country’s total production, forecast by Agroconsult at 114.8 million tonnes.
It also made an upward revision in Brazilian corn exports, from 37 million tonnes to 43 million.
This would be welcome news to corn importers as Ukraine, one of the world’s top exporters, struggles to ship corn due to Russia’s blockade of Ukrainian ports.
Reuters also noted that Agroconsult raised its estimate for Brazil’s soybean crop to 126.9 million tonnes from 124.6 million.
