Conab boosts Brazilian corn output estimate for 2016-17 crop year by 3.47%


Brazil will produce an estimated 87.409 million mt of corn in the 2016-2017 crop year, the latest data from national crop agency Conab showed Thursday, 3.47% above its January estimate of 84.480 million mt.

Of the total, first-crop corn production was estimated at 28.817 million mt, compared with the January estimate of 28.403 million mt. For the second crop -- which is the main harvest -- the production estimate was raised to 58.592 million mt from January's 56.077 million mt, the data show.

The agency's February estimate also put total production for the 2016-17 crop year 31.38% higher than the 2015-16 crop year.

Of the total, first-crop production for the 2016-17 crop year is expected to be 11.46% higher than in the previous crop year. For the second crop, production in the 2016-17 crop year it is expected to be 44% higher than in the previous crop year.

In Brazil, the crop year refers to the year when the crop is planted and harvested -- for 2016-17, the first crop was planted at the end of 2016 and will be harvested in 2017 and the second crop will be planted and harvested in 2017.

When tracking supply and demand, Brazil uses a marketing year that starts February 1.

Brazil is the main competitor for US corn exports.


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