Heat wave: Brazil cuts over 6 million tons from its harvest estimates

Due to unfavorable weather conditions in Brazil, corn and soybean output estimates were adjusted this week.

RIO DE JANEIRO, BRAZIL - Brazil's National Supply Company (CONAB) released its latest monthly estimate for the 2021/22 grain harvest, where December's positive expectations were completely eclipsed by the heat wave which is severely affecting crops.

In detail, the entity reduced its projection of Brazilian soybean output by 2.29 million tons compared to the previous report, while in the case of corn the decrease was of 4.28 million tons.

This indicates that the adverse weather conditions affecting major crops have claimed 6.57 million tons in one month, compared to December 2021 expectations.

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