A late start to planting and dry weather during the growing season have taken their toll on Brazil’s corn crop.
The USDA’s Foreign Ag Service now estimates production at 94 million tons, down 4.5 million from the most recent official projection and 11 million less than the FAS’s last guess, with most of that coming out of Brazil’s critical second crop, the source of most of their exports. Harvest is underway and if realized, this would be Brazil’s smallest total corn crop in 3 years.
