StoneX has raised its estimate for Brazil's 2024/25 second season corn production to 111.7 million tons, which is 3.2% higher than last month's forecast.

With the increase in second season corn production, Brazil's estimated total corn production for 2024/25 has also been raised to 139.36 million tons, an increase of 3.26 million tons or 2.4% from the July forecast of 136.1 million tons.

Despite the optimistic production outlook, the market still needs to pay attention to weather changes in the coming months, especially the potential impact of La Niña on South American agricultural production areas.

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