A pile of corn in front of a grain bin

Brazil's next crop could be enormous

May 01, 2021 11:39 a.m.

While weather will continue to determine how the corn harvest plays out this year, three key factors are creating buzz about a potentially record setting corn and soybean crop in Brazil next year: high prices, weaker currency, and more land available to convert to row crops.

For corn, high prices and rising local demand for ethanol and feed have some farmers anticipating an acreage expansion which would potentially boost next year's total corn production by 16-22 MMT. 

For soybeans, a forecast 11 MMT production increase due to higher acreage is supported by high prices and expectations of another strong export year to China. These acreage expansions would make it the 14th straight year that acreage has increased in Brazil.




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