News & Publications
February 13, 2024 |
Is USDA downplaying Argentine crops?
The latest crop reports from Conab and the USDA provide valuable insights into the current state of global corn, soybean and wheat production.
Corn
First, Conab reduced the Brazil crop by 3.9 to 113.7 MMT, which was 3.2 MMT below the trade average.
Second season, or safrinha, production was decreased by 3.1 MMT to 88.1 and is now 13.9 MMT smaller than the 2022/23 crop. The harvested area, at 15.9 MMT, is 537 K lower than the January estimate and nearly 8% smaller than the previous year, as producers opted to plant less area in the face of low corn prices.
