Brazil is expected to produce 299.27 million tons of grains in the 2023/2024 harvest

Brazil's grain production for the 2023/2024 harvest is expected to reach 299.27 million tons, a 6.4% decrease from the previous cycle due to the El Niño phenomenon, but still the second largest ever. Soybean and corn production are projected to decline by 4.7% and 12.2%, respectively, despite a 1.5% increase in the total cultivated area. The agricultural market shows stable rice prices and rising domestic corn prices due to the appreciating Dollar, while soybean prices are influenced by international markets. Additionally, Brazil's 2023/24 bean season is forecasted to produce 3.3 million tons, a 7.6% increase from the previous harvest, with stable prices expected due to a well-supplied international market.

The volume of Brazilian grain production is expected to reach 299.27 million tons in the 2023/2024 harvest. The amount represents a decrease of 6.4% or 20.54 million tons less compared to the previous cycle, but it still positions this harvest as the second largest ever harvested in the country. The data is contained in the 10th grain survey, released this Thursday (11), by the National Supply Company (Conab). According to the estimate, the field survey, carried out at the end of June, indicates a positive variation of 0.6% or 1.72 million tons in relation to the previous month's survey. The reason was the advance in the harvest of the main crops, indicating a recovery in production, especially in second-crop corn, sesame and rice. On the other hand, there was a reduction in the first harvest of corn, beans, wheat, cotton and soybeans. The break observed in relation to the past cycle, according to the survey, is mainly due to the intensity of the El Niño phenomenon, which in this ...