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With an estimated production of approximately 127 million tons of corn, the corn crop for the 2022/23 season should see an increase of 12.5% compared to the last season. This increase should contain the pressures of a restricted global grain supply, in view of a lower quantity of the North American product and crop problems in the European Union, as pointed out in the October edition of the AgroConab newsletter.
According to the document, the corn harvest in the European Union is expected to be the lowest recorded since 2008. In addition, the USDA confirmed a cut in production and grain stocks in the United States for the 2022/23 harvest, which puts pressure on grain prices in the international market, also influencing the domestic price. With this scenario, there is a trend of increased demand for Brazilian exports.
October 27, 2022 /CONAB /Brazil.
https://www.conab.gov.br
