Brazil grain crop forecast reaches new high

BRASILIA, BRAZIL — With overall planted area rising 2.9%, Brazil’s grain production is projected to reach a record 312.4 million tonnes with the 2022-23 harvest, up from 270.9 million tonnes in the recently finished season, the National Supply Company (Conab) said in its grain harvest survey released Oct. 6. 

Corn and soybeans together are predicted to reach 279.3 million tonnes, with soybean farmers expected to plant 42.89 million hectares, up 3.4% from the previous harvest. Increased costs and a migration toward more profitable crops will drop corn’s first harvest planted area 1.5%. [more]