Pulled by corn, grain 2018/19 crop has the potential of record, Conab says

The 2018/19 of Brazil soy crop should remain stable or even fall before the previous cycle, but still the country has the potential to reap a record volume of grains and oilseeds in the current season thanks to the recovery of corn crops, said on Thursday the national supply company (Conab). In your first survey for the current harvest, estimated a crop of soybeans between 117,040,000 and 119,420,000 tons against 119,280,000 tons in 2017/18. In a recent Reuters survey, analysts and consulting firms bet on a crop next to 120.4 million tonnes in Brazil, the largest exporter of the commodity. According to Conab, the conservative estimate takes into account a potential productivity lower at 3.30 tonnes per hectare (-2,7%), although the area can grow to a record 36,170,000 hectares, of 35,140,000 in 2017/18. Soy is the Brazil's main agricultural crop and large item on the export of the country. Although the prospects for the current harvest Conab soybean be shy, the trend is that total production of grains and oilseeds will grow up before 2017/18 thanks to the corn crop that last year was hampered by a smaller acreage and conditions adverse weather. Total production in Brazil's 2018/19 should hit somewhere between 89,730,000 and 91,080,000 tons against 80,780,000 tons in 2017/18. The highest bidder, including, should enable the country to export a record of grain this season. In this way, provides for a total production of Conab grains and oilseeds in 2018/19 between 233,550,000 and 238,640,000 tons versus 227,810,000 tons in the previous year. If the upper bound estimates materialize, would surpass the historic volume of about 237 million tons seen in 2016/17. " If we have an ideal climate. We may have the largest brazilian harvest of grains, "said the Minister of agriculture, Blairo Maggi, in press conference in Brasilia, according to the Government agency, the total acreage this year must range from 61,870,000 to 63,140,000 hectares, against 61,730,000 in 2017/18.