Brazilian corn and wheat productions continue to exceed expectations, setting record-breaking harvests. In contrast, Brazil is expected to produce its lowest rice crop in 25 years due to a period of prolonged drought in the south and low profitability for farmers. Post sets its initial forecast for corn planted area for MY 2023/24 (March 2024 – February 2025) at 22.8 million hectares (ha), a 1.3 percent increase on the current season, with production increasing 6.4 percent from the MY 2022/23 estimate, set at 125 MMT. Post projects its initial milled rice production at 10.13 MMT of paddy rice. This represents a 1.7 percent drop compared to the previous season and is consistent with the decrease in planted area. Meanwhile, wheat production for MY 2023/24 is projected to increase by almost four percent compared to the 2022/23 estimate, reaching 11 MMT.
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