Brazil Corn Record Production in Light of 2021/22 Exports
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As the harvest season for Brazil Safrinha Corn crop continues, the production forecast remained stable in Jul 2022, with a record 44.5 Mmt available at export. Between Jun 21 and May 22, Brazil exported 31.1 Mmt of Corn, down 10 Mmt YoY. Between Jun and Dec 21, monthly exports decreased YoY, by as much as ~3.5 Mmt in Sep 21. However, since Mar 22 and the loss of the Ukraine Corn supply (4th largest exporter in the world), out-of-season exports picked up considerably, increasing by 1.46 Mmt & 1.52 Mmt YoY in Apr & May 22. The new Safrinha Corn crop comes into the second half of 22 with a tighter market but a slow demand nonetheless. Now, are Brazil Corn prices competitive with the major origins?
Brazil Corn Exports Between Jun 2021 & May 2022
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