On Thursday, the Brazilian National Commodity Supply Company (CONAB) released its 9th production forecast report, raising Brazil's corn production by about 1.35 million tons and domestic consumption by 2.2 million tons. CONAB expects Brazil's total corn production for 2024/25 to reach 1,282,527 million tons, which is 1.37 million tons higher than last month's estimated 126,878.6 million tons, an increase of 11% from the previous year's production, and a projected year-on-year increase of 9.9%.

The estimated planting area is 21.44 million hectares, with a predicted 21.39 million hectares last month, a year-on-year increase of 1.8%, and a predicted year-on-year increase of 1.6% last month; The estimated yield of corn per hectare is 5,983 kilograms, higher than last month's forecast of 5,933 kilograms per hectare, a year-on-year increase of 9.0%, and a forecasted growth of 8.1%.

The first season corn production has been lowered to 24.82 million tons, higher than last month's forecast of 24.69 million tons, an increase of 11.0% compared to the previous year, and a forecast increase of 7.5% last month.

The expected yield of corn in the second season is 101.01 million tons, which is 1.2% higher than the forecast of 99.8 million tons last month, a year-on-year increase of 12.2%, and a forecast increase of 10.8% last month.

The expected corn production for the third season is 2.42 million tons, higher than last month's forecast of 2.39 million tons, a decrease of 2.4% year-on-year, and a decrease of 3.8% in last month's forecast.

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