# Brazil reduces estimates for grain harvest amid extreme weather events

> Conab cut its 2023/24 Brazilian grain and fiber harvest estimate to 312.3 million tonnes from 316.7 million. Extreme weather linked to El Niño, including heavy rain in Rio Grande do Sul and drought in the Central-West, drove the revision. The soybean estimate was also trimmed to 160.2 million tonnes.

- Date: 2023-12-11 · published 2023-12-11T12:00:00.000Z
- Category: weather · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/13603-brazil-reduces-estimates-for-grain-harvest-amid-extreme-weather-events
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Lower Brazilian soybean and corn output reduces global export supplies and supports prices for both crops. Feed buyers should expect firmer soybean meal and corn costs.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-01-17 | [Brazil’s Drought Reduces Grain Harvest Forecasts](https://feedsoft.ai/events/13749-brazil-s-drought-reduces-grain-harvest-forecasts.md) | +3.4% | +15.7% |
| SOY | 2018-12-04 | [Wet Weather in Central Brazil a Cause for Concern](https://feedsoft.ai/events/61504-wet-weather-in-central-brazil-a-cause-for-concern.md) | +1.0% | -0.6% |
| SOY | 2023-10-25 | [All over Brazil, extreme weather is affecting soybean planting](https://feedsoft.ai/events/13618-all-over-brazil-extreme-weather-is-affecting-soybean-planting.md) | -0.6% | +6.3% |
| SOY | 2021-02-26 | [Brazil Soy Harvest Slowed by Delayed Planting and Wet Weather](https://feedsoft.ai/events/48465-brazil-soy-harvest-slowed-by-delayed-planting-and-wet-weather.md) | +0.7% | +0.6% |
| SOY | 2022-02-28 | [Soybean Prices Rise as South American Drought Reduces Harvest \| Feed & Grain](https://feedsoft.ai/events/14055-soybean-prices-rise-as-south-american-drought-reduces-harvest-feed-and-grain.md) | +5.4% | +7.5% |
| CORN | 2022-01-17 | [Brazil’s Drought Reduces Grain Harvest Forecasts](https://feedsoft.ai/events/13749-brazil-s-drought-reduces-grain-harvest-forecasts.md) | -0.5% | +6.0% |
| CORN | 2023-10-03 | [Hot, dry grain fill weather affects yield estimates](https://feedsoft.ai/events/13242-hot-dry-grain-fill-weather-affects-yield-estimates.md) | -0.4% | -2.9% |
| CORN | 2017-07-13 | [Strategy Grains lowers EU harvest estimates after heat](https://feedsoft.ai/events/69902-strategy-grains-lowers-eu-harvest-estimates-after-heat.md) | +0.3% | -1.2% |

## Sources

- valorinternational.globo.com: https://valorinternational.globo.com/agribusiness/news/2023/12/11/brazil-reduces-estimates-for-grain-harvest-amid-extreme-weather-events.ghtml

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.