Conab, the Brazilian official crop bureau noted in its monthly
estimates lifted its domestic corn output by more than 1.3 million (m)
tonnes to a record 77.45m tonnes this season. This was primarily
prompted by an extended rainy season and mostly reflects a rise in the
so-called little corn crop, the safrinha harvest.
Conab, the
Brazilian crop bureau - in monthly estimates which trimmed 300,000
tonnes from the estimate for soybean output in 2012-13 - lifted by more
than 1.3m tonnes to a record 77.45m tonnes its forecast for domestic
corn production.
The upgrade reflected a raise to 41.28m tonnes
in the estimate for the safrinha crop, leaving it far ahead of the 34.8m
tonnes at which the main crop, currently being harvested, was pegged.
The
USDA estimates that Brazil would be exporting 19 m tonnes of corn in
2012-13, within 2 m tonnes of overtaking the as the world's top corn
exporting nation.
Source by Commodity Insights
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