Corn takes King throne from soybeans in Brazil
That's what Céleres consultancy is saying here in Brazil. The prediction is that the 2011/12 crop of corn will be of 65 million tons, while soybens crop woudn't be over 64.95 tons. It is a very slight majority for corn. Since 1976, it just happened in 1997 and 1999. The reasons are the southern drought and also the switch to corn to get more profitability.
Do you guys buy that forecast?
Re: Corn takes King throne from soybeans in Brazil
I'm being told the consultancy's estimates may not be realized. Nonetheless, it really is amazing that a country that is seen as being so dominant in soybean production, all of the sudden has corn knocking on the door as a major crop competitor. The market is certainly digesting this idea that Brazil soybean production has fallen. The other thought on this topic is the ability of Brazil to produce so much corn with average yields of just 85-88 bu./acre? What will happen when Brazil can boost those corn yields closer to 100 or more?