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According to Brazil's National Supply Company (CONAB), Brazilian production of raw materials in the 2021/2022 harvest is estimated at 268.2 million tons. If realized, this volume represents a 5% growth compared to last season, with about 12.79 million tons more produced.
In the case of soybeans, with 16.8% of the crop already harvested, this should yield a production of 125.47 million tons. This represents a drop of about 9% compared to the previous harvest. The sowing of oilseeds was good in most of the producing regions, which gave rise to positive expectations. However, as of November, the scenario changed due to adverse weather conditions.
As for corn, despite the adverse weather for the first harvest, CONAB expects a recovery in production. According to the Brazilian state-owned company's estimate, about 112.34 million tons should be harvested, which represents an increase of 29% compared to the 2020/2021 season. The first harvest should be 24 million tons, a volume very close to that of last season. For the second harvest, an increase of 47% is expected which would result in the production of 86 million tons.
February 10, 2022/ CONAB/ Brazil. https://www.conab.gov.br
