AgResource Trims Brazil’s 2024/2025 Total Corn Crop Estimate

By Roberto Samora

SAO PAULO, Jan 13 (Reuters) – AgResource on Monday trimmed its estimate for Brazil’s 2024/2025 total corn crop by less than 1%, citing delays in soybean harvesting as affecting the outlook for country’s key second corn crop.

The second corn crop is planted after soybeans are harvested on the same fields, and represents around 70% to 75% of total corn production in Brazil.

Delays in the soybean cycle may reduce the ideal planting window for the second corn crop.

Brazil’s total corn crop estimate stands at 122.39 million metric tons, slightly lower than the 123.56 million tons previously forecast, AgResource said.

Farmers across the nation have harvested 0.3% of the soy area, down from 2.3% a year ago, according to AgRural data.

Recent rains are disrupting soy harvesting in some regions of central Brazil. In top agriculture state Mato Grosso, farmers are reaping their soy at the slowest pace in seven years, consultancy AgRural said.

AgResource also slightly upped its estimate for the soybean crop, from 170.04 million tons to 172.07 million tons.

“The risk of La Niña has returned and its impacts could affect the quality of soybean crops, especially in the later or replanted areas,” AgResource said. “However, the advance of the rains over the central-northern region of Brazil could help offset possible losses in some states and regions,” it added.

(Reporting by Roberto Samora; Writing by Isabel Teles; Editing by Kylie Madry and Ana Mano)