Brazil's Wheat Production On Track For Another Record

Brazil's Forbes News reported on July 7, citing Reuters, that Brazil's 2022 wheat crop is expected to hit a record high in 2022, according to a research report released on Thursday by Brazil's National Supply Corporation (Conab). A record 9 million tons, an increase of 17.6% over last year, and continued to increase after last year's record.

According to the National Supply Corporation, Brazil has completed about 65 percent of the planted area, estimated at 2.9 million hectares, up 6.6 percent from the same period last year and only down from 3.28 million hectares in 1990. Conab expects wheat yields to rise by 10.3 percent this year, at 3 tons per hectare. Thirty-two years ago, yields were only 1 ton per hectare.

Conab lowered its forecast for Brazil's wheat imports in 2021/22 (end-July) by 500,000 tons to 6 million, and raised its export forecast to 3.2 million from 3.15 million, due to the expected increase in supplies for the new harvest. In 2022/23, exports are expected to be 2.5 million tons and imports are expected to be 6.5 million tons.