# Brazil Expected to Expand Soybean Acreage and Reduce Corn Acreage - farmdoc daily

> farmdoc daily reports that Conab expects Brazilian farmers to plant more soybeans and less corn in 2023/24, because corn prices are unattractive relative to soybeans. El Nino has also worsened the corn outlook, particularly through delayed first corn planting in Rio Grande do Sul.

- Date: 2023-10-18 · published 2023-10-18T12:00:00.000Z
- Category: report · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/13622-brazil-expected-to-expand-soybean-acreage-and-reduce-corn-acreage-farmdoc-daily
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A shift from corn to soybean area in Brazil lowers expected corn supply and raises soybean supply, which is supportive for corn and bearish for soybeans. The net effect depends on how El Nino affects yields in each crop.

## Read by commodity

- SOY: bearish ▼
- CORN: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-10-18 | [WASDE Recap: Corn and Soybeans at a Turning Point - farmdoc daily](https://feedsoft.ai/events/14896-wasde-recap-corn-and-soybeans-at-a-turning-point-farmdoc-daily.md) | -0.9% | -2.3% |
| CORN | 2023-10-17 | [Report Reaction Shows Differing Corn and Soybean Market Conditions - farmdoc daily](https://feedsoft.ai/events/33645-report-reaction-shows-differing-corn-and-soybean-market-conditions-farmdoc-daily.md) | +2.6% | -1.6% |
| CORN | 2021-06-30 | [Smaller-than-expected U.S. corn, soy acreage stokes price rally](https://feedsoft.ai/events/46614-smaller-than-expected-u-s-corn-soy-acreage-stokes-price-rally.md) | -0.4% | -10.6% |
| CORN | 2023-10-12 | [WASDE Reduces Corn and Soy Production More Than Expected](https://feedsoft.ai/events/33584-wasde-reduces-corn-and-soy-production-more-than-expected.md) | -0.4% | -1.5% |
| CORN | 2019-09-30 | [Corn and Soybean Stocks Come In Below Trade Expectations \| Red River Farm Network](https://feedsoft.ai/events/57013-corn-and-soybean-stocks-come-in-below-trade-expectations-red-river-farm-network.md) | -0.9% | +1.1% |
| SOY | 2017-04-06 | [Brazil To Harvest Record Corn And Soybean Yields](https://feedsoft.ai/events/71350-brazil-to-harvest-record-corn-and-soybean-yields.md) | +0.4% | +2.2% |
| SOY | 2017-08-14 | [Brazil: Estimates for corn and soybean crop are raised again](https://feedsoft.ai/events/69285-brazil-estimates-for-corn-and-soybean-crop-are-raised-again.md) | +0.2% | +2.1% |
| SOY | 2022-09-01 | [Conab forecasts increased soybean, corn, and cotton production in Brazil](https://feedsoft.ai/events/13701-conab-forecasts-increased-soybean-corn-and-cotton-production-in-brazil.md) | -2.5% | -6.4% |

## Sources

- farmdocdaily.illinois.edu: https://farmdocdaily.illinois.edu/2023/10/brazil-expected-to-expand-soybean-acreage-and-reduce-corn-acreage.html

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