Feb 7 2023
Initial Estimates for South American Crop Production and Yield Forecasts Have Just Been Released!
It's that time of year again! We've just released our initial South American Crop Production Forecasts! South American farmers have been hard at work during the planting season and the anticipation is high. While Argentina’s crop has been adversely affected by a prolonged drought, Crop Production Forecasts from Barchart show that Brazil is expected to have a record-breaking production of corn this year!
Barchart’s South American Crop Production Forecasts are produced daily throughout the growing season and are available to cmdtyView Pro subscribers at no additional charge. Semi-monthly estimates will be made available to the public through our free South American Crop Production Report.
The initial report indicates Brazil's crop production estimate for corn is 128.6 MMT with a yield of 5,663.6 kg/Hectare, which is above CONAB’s latest estimate of 125.06 MMT. Barchart’s soybean production estimate for Brazil is 150.4 MMT with a yield of 3,505.1 kg/Hectare, which is lower than CONAB’s latest estimate of 152.7 MMT.
It's no secret that Brazil is one of the world's leading corn producers and exporters, and the high domestic and global corn prices have been the driving force for the increased corn planting area. With Brazil being the third-largest corn producer and exporter behind the United States and China, this is major news!
Barchart’s South American Crop Production Report estimates Argentina’s crop production for corn at 47.7 MMT with a yield of 6,925 kg/Hectare, which is higher than the Buenos Aires Grain Exchange’s estimate of 44.5 MMT. Barchart’s soybean production for Argentina is forecast at 43.0 MMT with a yield of 2,518.8/Hectare, which is higher than the Buenos Aires Grains Exchange’s estimate of 41.0 MMT.
Dry weather and high temperatures in the last months of 2022 have damaged the marketing year 2022/23 Argentine soybean crop, but there’s still hope on the horizon! With the La Niña weather system weakening, conditions are expected to improve.
Are you ready to make smarter decisions when it comes to lending, pricing, and hedging? Get the edge you need with Barchart’s Crop Production and Yield Estimates. To sign up for free semi-monthly South American Crop Production estimates, please click here. To learn more about Barchart’s Crop Production Forecasts or to receive API access, please visit our website.