Sep 18, 2024
2024/25 Brazil Corn Estimate Unchanged at 125.0 Million Tons
Author: Michael Cordonnier/Soybean & Corn Advisor, Inc.
Author; Michael Cordonnier/Soybean & Corn Advisor, Inc.
The 2024/25 Brazil corn estimate was left unchanged this week at 125.0 million tons and I have a neutral bias going forward.
Planting of the first corn crop is underway in southern Brazil where there has been some rainfall. Approximately 19% of the first corn crop in southern Brazil was planted as of late last week compared to 20% last year according to AgRural. This represents an advance of 4% for the week. In the state of Rio Grande do Sul, Emater reported that 37% of the corn was planted as of late last week.
In the state of Parana, the Department of Rural Economics (Deral) reported that 29% of the corn had been planted as of earlier last week. The corn was rated 6% average and 94% good.
The first corn crop in Brazil will account for only 20-25% of Brazil's total corn production. The safrinha crop will account for over 75% of the total corn production, so it is the safrinha crop that needs to be monitored closely.
In the September WASDE Report, the USDA left the 2024/25 Brazil corn estimate unchanged at 127.0 million tons. Conab will issue their first official estimate of the 2024/25 Brazil corn production in their October Crop Report.