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Brazil: Corn and soybean estimates for 2023/24

For soybeans, the country's main crop, estimates show growth in planted area and yields.

17 October 2023
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The Brazilian grain harvest in the 2023/24 season could reach 317.5 million tons. This estimate indicates a slight decrease compared to last season, influenced by the initial prospect of a decrease in average yields, since there is an indication of slight growth in the total area sown, which should exceed 78 million hectares.

For soybeans, the country's main grain crop, growth is estimated in both area and productivity, but at a slower rate than in the last crop year. With an expected area of 45.18 million hectares and an initial average yield estimated at 3,586 kilos per hectare, production should reach just over 162 million tons. If realized, the volume to be harvested will be a new record for the crop. Oilseed planting is progressing well in Paraná, with 20% of the area already sown. In Mato Grosso and Mato Grosso do Sul, the percentage of cultivated area stands at 19.1% and 8% respectively.

The opposite scenario is predicted for corn considering the three harvests. Estimates point to a 4.8% reduction in the planted area, projected at 21.19 million hectares, and a 4.9% reduction in average yield, reaching 5,636 kilos per hectare. The first crop cultivation has already begun in the three southern states of the country. Given this outlook, the total production expected for the cereal in the 2023/24 harvest is 119.4 million tons, compared to the more than 130 million tons harvested in the last season, which can be seen on the Conab website.

October 10, 2023/ CONAB/ Brazil.
https://www.conab.gov.br

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