AgResource Brasil, a subsidiary of the North American company AgResource Company, revised the soybean and corn production estimates for the 22/23 cycle. The revisions are in line with the better measurement of soybean field yields due to the advance of the soybean harvest and planting of 2nd crop corn.
For soybeans, the production of the 22/23 harvest was reduced due to production losses mainly in the southern region of the country and area adjustments. With that, the national production was indicated in 153.38 million tons, reduction of 0.56%, while the area was indicated smaller in 0.20%, reaching 43.310 million hectares, with emphasis on a smaller area in Rio Grande do South due to drought. The estimated area is 24,100 hectares smaller than the area indicated by Conab. AgResource estimates that the soybean harvest will have reached 44-46% of the total area by the week starting March 5th.
In corn, the estimated areas for the 1st and 2nd harvests were increased to 22.25 million hectares. The 3rd harvest did not change. The adjustments represent a 2.6% increase in the total area of 22.93 million hectares.
The productivity of the first crop was reduced to 109 sc/ha on average, which projects a final production of 26.85 million tons.
In the case of the second crop, planting continues to advance, mainly in Mato Grosso, where it reaches 75-76% of the total area.
In the 2nd harvest, productivity was adjusted to 99.74 sc/ha, resulting in a production of 98.72 million tons, an increase of 3.08% compared to last month’s estimate. For the total production of corn in Brazil, AgResource estimates it at 127.84 million tons, compared to 113.11 million tons in the last crop.