Amid the current dry weather conditions in Brazil, there are indications that the country may see some downward revision to the production forecast for 2021-22 corn crop, according to local reports.
Brazil’s 2021-22 corn crop will be marketed from February 2022 to January 2023.
Corn production in Mato Grosso is seen at 39.35 million mt in marketing year 2021-22 (February-January), down 3% from the previous estimate, but still 20.83% higher than the 2020-21 corn output, the Mato Grosso Institute of Agricultural Economics, known as the IMEA, said in its latest report.
The Federation of Agriculture and Livestock of Mato Grosso do Sul released its weekly report showing that the week ended April 30 was characterized by a lack of precipitation across the state. A large part of the crop is in the stage of tassel development (VT) and grain filling (R2), stages still susceptible to water stress that can cause severe damage to production, even with early planting, according to the agency.
In Minas Gerais, the lack of rain continues to worry producers in the state, the national agricultural agency Conab said in a report.
Moreover, the rainfall forecast for the Center-West region in the near-term is unfavorable.
The Center-West Region is likely to see low volumes of rains during May 3-9, which should not exceed 30 mm and in some locations in Goias and Mato Grosso there may be no rain, according to Brazil’s National Institute of Meteorology.
“Showers may increase slightly in southern portions of the safrinha corn belt this week, but dry weather in northern and central growing areas will maintain extensive dryness concerns. Light showers are possible during the 6-10 day period, but dryness and crop stress will likely continue,” space technology provider Maxar said in its daily weather report on May 2.
The country is expected to harvest a record 115.6 million of corn in MY 2021-22, including the first-corn output, according to Conab.
The first-corn crop in Brazil is planted in September-December and harvested in February-May, while the second crop is planted in February-March and harvested in June-July.
Brazil is usually the second-largest exporter of corn following the US.
Prices flat
Corn prices in the key spot markets of Brazil were largely unchanged over the last few days as the consumers remain optimistic about the production despite the current weather conditions.
Buyers are calm about the cereal availability as they expect a bumper second-corn production in the country, which is also reflecting in the reduction of port premiums for exports , Conab said.
