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CONAB ups estimates for Brazil corn, soybean crops

Brazil’s equivalent of the USDA has increased its expectations for corn production.

CONAB now has Brazil’s total corn crop at 141.729 million tons, up 0.9% from June and 0.4% from 2025 thanks to increased yield and acreage numbers for the first and second crops. This will likely lead to more export competition for the U.S.

The first corn harvest is nearly finished, and CONAB says that at the time the report was assembled, the second crop harvest was slightly behind schedule, with local yields mixed. Third corn crop production is expected to be below a year ago due to poor rainfall in some areas. First crop production came out at 29.604 million tons, which would be up 18.7% on the year, with the second crop at 109.43 million tons, 1.5% more than a month ago, but 3.4% less than a year ago, and the third crop at 2.695 million tons, a potential year-over-year drop of 10%.

Brazil’s soybean harvest is complete, with production currently pegged at a record 180.568 million tons, 0.2% higher than last month and 5.3% larger than last year. CONAB did raise its soybean export estimate to 116.3 million tons, in-line with their recent dominance of the global market.

CONAB’s next look at Brazil’s crops is set for August 13^th.