Brazil’s Corn Harvest Declines, Yet Remains Second Largest in Nation’s History

Brazilian farmers are expected to harvest 4,561 million bushels of corn in the 2023/24 season, including the country's first, second, and third crops. That total would be 12% less than last year’s record harvest, according to the latest report from the National Supply Company (Conab), the country’s food supply and statistics agency. The expected reduction in total corn production is mainly attributed to smaller acreage and lower yields in the second crop, which accounts for about 75% of the national production. Despite weather challenges posed by a year strongly influenced by El Niño, the anticipated total still will be the second-largest crop Brazil has ever produced. This article focuses on the latest estimates for total corn production in Brazil for the 2023/24 crop season, expected supply and demand, and implications for the international market.