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The estimated production for the 2022/23 harvest is 312.2 million tons which represents a 15% or 40.8 million ton increase from 2021/22. With first crop planting concluding in December, attention turns to the development of crops and the effects of weather, which should define productivity. These figures are included in the third grain harvest survey, released by the National Supply Company (Conab), on December 8.
With the total planting area in the country estimated at 77 million hectares, Brazilian agriculture maintains the growth trend seen in recent years and is expected to reach a record. This would represent an increase of 3.3% or 2.49 thousand hectares compared to the area of the 2021/22 harvest.
For soybeans, the third estimate for the planting area in the current season points to an increase of 4.6% over the previous harvest, reaching 43.4 million hectares. Sowing is expected to be concluded by the end of December and weather conditions have been favorable to crops.
For corn, Conab forecasts a total production of 125.8 million tons in the 2022/23 harvest, with an expected increase of 11.2% compared to the previous harvest. The planting of first-crop corn has advanced in all corn-producing regions.
The market analysis of Brazilian grains shows that for soybeans, there was a reduction in crushing estimates in 2023, from 51.43 million tons to 50.68 million tons. The reason for this is that, in this survey, it was considered that the percentage of biodiesel mixture to diesel in the first three months of 2023 will be 10%. With this expected reduction in grain processing, the estimates for final stocks of soy beans for the 2022/23 harvest go from 5.28 million tons to 6 million tons.
As for corn, for the 2021/22 harvest, export estimates increased to 41.5 million tons, considering the high volumes exported in November and the good expectation for December. Given this, the carryover stocks were adjusted to 7.1 million tons.
December 8, 2022 /CONAB /Brazil.
https://www.conab.gov.br
