CONAB has released its sixth production forecast report, raising Brazil's corn production by approximately 740,000 tons. It is expected that Brazil's total corn production for 2024/25 will reach 122,760.3 million tons, with an estimated 122,016.8 million tons last month, an increase of 6.1% compared to the previous year's production, and a predicted year-on-year increase of 5.5% last month.

The estimated planting area is 21.14 million hectares, with a forecast of 21.19 million hectares last month, a year-on-year increase of 0.4%, and a forecast of a year-on-year decrease of 0.7% last month; The estimated yield of corn per hectare is 5,806 kilograms, higher than last month's forecast of 5.758 kilograms per hectare, a year-on-year increase of 5.6%, and a forecast growth of 4.8% last month.

The expected corn production for the first quarter is 24.86 million tons, an increase of 0.6% from the previous month's forecast of 23.58 million tons, representing a year-on-year growth of 6.1%.

The expected corn production for the second season is 95.52 million tons, a decrease of 0.6% from last month's forecast of 96.05 million tons, and a year-on-year increase of 5.8%.

The expected corn production for the third season is 2.39 million tons, which is consistent with last month's forecast and a year-on-year decrease of 3.8%.

The estimated export volume of Brazilian corn for 2024/25 is 34 million tons, which is consistent with last month's forecast and lower than the previous year's 38.5 million tons. It will be the lowest export volume since 20.82 million tons in 2020/21.

The estimated domestic consumption is a record high of 86.97 million tons, with a forecast of 86.92 million tons last month, which is also higher than the previous year's 84 million tons.

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