Brazil: Grain and Feed Update
2016/2017 wheat production is estimated at 6.7 million metric tons (mmt), up 17 percent from the previous year based on good weather driving better quality. The larger production forced the government to intervene with price supports. 2016/2017 corn production is estimated at 84 mmt, a 20 percent increase from the previous year, due to a return to normal weather. Area is expected to be nearly the same as 2015/2016 at 16.1 mHA, but yields are expected to be much better. 2015/2016 milled rice production is forecast at 7.2 mmt, down 15 percent from the previous year on reduced area. Higher production costs are incentivizing some farmers to switch to other crops.
