Brazil is likely to produce a record 2016-17 soyabean crop of 104.4 million tonnes, up from a November estimate of 102.6 million tonnes, as favourable climate conditions boost production prospects, consultancy Agroconsult said on Wednesday. Agroconsult, who will start a crop tour this month visiting key producing areas in the country, also forecast a record 2016-17 corn crop of 94.9 million tonnes, up from a November estimate of 92 million tonnes.
Brazil is the world's largest soya exporter and the second largest corn seller. Unfavourable weather conditions last year reduced production of both grains, hitting corn more severely. Brazil produced 96.3 million tonnes of soyabeans and 72 million tonnes of corn in its last crop. "Without the influence of El Nino this year the conditions are right for a good crop," Agroconsult chief analyst Andre Pessoa said during a briefing in Sao Paulo.
He said soya producers were able to plant ahead of their usual timeframe in places such as the top soya-producing state of Mato Grosso and are also harvesting earlier.
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