Commodities Buzz: Brazilian Consultancy Company Estimates 55.2 Million Tonnes of Second Corn Crop For 2018

Brazilian Consultancy Agroconsult lowered its forecast for Brazils so-called second corn crop to 55.2 million tonnes on Monday but left its export projection unchanged after a survey of fields in four states affected by planting delays and a drought.

Agroconsult had estimated last month that the second crop, which farmers are currently harvesting, would total 57 million tonnes. Agroconsult predicts Brazils soy area is likely to grow by 1 million hectares next season, but planting decisions may be affected if the cargo transport is not normalized.