Wednesday, 10 April 2013

Commodities Buzz: Brazilian Corn Output Seen At Record On Small Variety

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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