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SAO PAULO (Reuters) - Brazil's 2024\/25 corn crop is expected to be above previous expectations, with an increase in planted area and generally favorable weather, consultancy C\u00e9leres said on Monday.<\/p>\n
The Mato Grosso Institute of Agricultural Economics (Imea) also revised upwards the harvest projection for the state, which is the largest national producer.<\/p>\n
C\u00e9leres estimated the country's harvest, the world's second largest corn exporter, at 135.4 million tonnes, versus 134.6 million in the previous forecast, which would represent an increase of almost 5% compared to last season, but still short of the 2022\/23 record (140.2 million).<\/p>\n
\u201cThe appreciation of corn prices since 2024 favored the expansion of the area destined for the second 2024\/25 harvest by 4%, even in the face of the delay in the soybean harvest at the beginning of the year,\u201d stated C\u00e9leres, citing the period in which Brazil harvests a large part of its cereal.<\/p>\n
The consultancy cited Mato Grosso as a highlight.<\/p>\n
\u201cAs a result, additional pressure is projected on domestic cereal prices in the next quarter,\u201d said C\u00e9leres, in a report.<\/p>\n<\/p>\n
However, the consultancy also sees domestic demand as an important driver of support for domestic prices, \u201cdriven by the consolidation and expansion of the cereal-based ethanol industry\u201d.<\/p>\n
\u201cFrom the producer\u2019s point of view, the expectation of high productivity and still remunerative future prices, compared to the same period in 2023 and 2024, supports a scenario of positive margins for the sector,\u201d he said.<\/p>\n
MATO GROSSO<\/p>\n
Imea raised its harvest forecast for Mato Grosso by 3.9%, to 48.9 million tons, which would be an annual increase of 3.6%.<\/p>\n
Now the institute linked to producers sees the harvest of the current cycle surpassing the previous one with an adjustment in average productivity, of 2.5%, as well as in the planted area, at 1.34%, to 7.1 million hectares.<\/p>\n
\u201cProductivity maintained its upward trend, with an increase of 2.82 bags\/hectare, compared to the April\/25 release, reaching 114.54 bags\/hectare. This increase was mainly driven by the good conditions of the crops until the end of April,\u201d Imea said in a report on Monday.<\/p>\n
According to the institute, a significant portion of the areas developed within an ideal rainfall regime, due to the maintenance of rainfall volumes in most regions until the end of the month.<\/p>\n
(By Roberto Samora)<\/p>\n<\/p><\/div>\n