Brazil: Grim outlook for farmers short on corn

摘要

Harvesting of Safrinha crop in Brazil is making progress in Mato Grosso and Parana. Crop tours into Mato Grosso revealed yield reductions of 50 year on year in certain areas because of hot and dry conditions through key growing periods. While these production losses are partly responsible for the recent record high corn prices, they are likely to cause some major issues for farm incomes. Farmers sold corn forward at unprecedented levels before the crop had been grown.