On Thursday last week Brazilian financial services provider Itaú BBA issued the first estimates for soy and corn production in Brazil for the 2021-22 season.
It has forecast soybean production at what would be a record breaking 138 million tonnes, surpassing the approximate 135 million tonnes for the 2020-21 season currently forecast in the latest Conab update.
For corn, much like soybeans, Itaú is also predicting a record crop year in 2021-22, with their first estimate of 112 million tonnes. This would eclipse the estimated 109 million tonnes forecast for the current season in the latest USDA Wasde forecast, among others.
To see all of our forecasts for Brazilian soybeans in the 2021-22 season as they are announced click here. For Brazilian corn forecasts for the 2021/22 season click here. For estimates from previous seasons or for all other major commodities check out our live forecast home page.
As always, Agrimoney will bring you the latest agricommodities forecasts from around the globe as soon as they are announced.