Brazil Raises Corn Production Forecast Amid Looser Supplies

Brazil's National Supply Company (CONAB) has released its 11th survey of the season, projecting total corn production for the 2025/26 crop year at 142.955 million tonnes. This figure is 1.23 million tonnes higher than the previous month's forecast and represents a 1.3% increase year-on-year.

The upward revision in Brazil's production forecast has heightened expectations of looser corn supplies, exerting bearish pressure on both spot and futures prices for corn.

Brazil is a major global corn exporter, and this development could have significant implications for the global corn market.