Brazil closes the 2018/19 harvest with a record of 242.1 million tons, with a boost from corn and cotton

Brazil closed the 2018/19 grain and oilseed harvest with a record production of 242.1 million tons, with growth in corn and cotton harvests, the National Supply Company (Conab) estimated this Tuesday.

The Brazilian harvest grew 6.4% compared to last season, with historic harvests of cotton and corn, as production of soybeans, the country's main crop, fell compared to the 2017/18 record.

In the case of cotton, research carried out by the state-owned company revealed an increase of 35.9% in production, with an estimated volume of 2.7 million tons of lint.

“Among the reasons are the exchange rate, price developments and other factors, which led producers to expand the planted area, mainly in the states of Bahia and Mato Grosso. As a result, the plume export forecast is also expected to surpass last year's by more than 50%, reaching the 1.5 million ton mark for the first time,” said Conab.

The total corn harvest was projected at almost 100 million tons, with an increase in the second harvest of 36.9%, to a record 73.8 million tons. In this way, Brazil will be able to export a record 35 million tons, compared to around 24 million last season. Conab increased its shipment projection by 500 thousand tons compared to the August survey.

Soybeans, in turn, suffered a reduction of 3.6% in the harvest, reaching 115 million tons, with drought problems in Paraná and Mato Grosso do Sul, mainly. Even so, it was the second largest oilseed harvest in Brazilian history.

Soybean exports were estimated at 70 million tons, compared to a record 83.3 million tons in the previous year.

Wheat production, in the harvest process, was estimated at 5.4 million tons, practically stable compared to the August forecast and in relation to the previous harvest.

Conab forecasts wheat imports by Brazil at 7.2 million tons, stable compared to August, but an increase compared to the 6.7 million tons seen in 2018.

Source: Agricultural News

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