Grain production in Brazil should increase 1.3%
The estimates are from the sixth crop survey by the National Supply Company (Conab). The highlight is soy, at 101.2 million tons, up 5 million from the preceding crop.
Also this Thursday, in Rio de Janeiro, the Brazilian Institute of Geography and Statistics (IBGE) released its second estimate this year for the cereal, oilseed and pulses crop, forecasting 211.3 million tons, up 0.9% from 2015’s all-time high crop.
The IBGE survey covers the calendar year, while Conab’s concerns the crop year. The IBGE’s February forecast is up 0.3% from January. Rice, maize and soy combined account for 92.8% of the production estimate.
Soy production forecast was up 4.9% according to the IBGE, whereas rice and maize forecasts declined. ■