# Brazil expects record second corn crop - DatamarNews

> Agroconsult's Rally da Safra raised its forecast for Brazil's second corn crop to 102.4 million tonnes, up from 97.2 million in March and about 10% above the previous cycle. Yields in Mato Grosso and Goiás are at records, and Brazil's corn exports are forecast at a record 54.1 million tonnes. Planting in Parana was the slowest on record because of the late soybean harvest.

- Date: 2023-05-24 · published 2023-05-24T12:00:00.000Z
- Category: report · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/13647-brazil-expects-record-second-corn-crop-datamarnews
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

A larger safrinha crop and record export volumes add to global corn supply during the Brazilian export season, which is bearish for corn prices. Logistics congestion could slow shipments and partly limit the price effect.

## Read by commodity

- CORN: bearish ▼
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-08-12 | [USDA Expects Record Corn Crop](https://feedsoft.ai/events/51548-usda-expects-record-corn-crop.md) | +3.8% | +8.3% |
| CORN | 2022-07-25 | [Brazil’s second corn crop 62pc harvested - Markets - Business Recorder](https://feedsoft.ai/events/13707-brazil-s-second-corn-crop-62pc-harvested-markets-business-recorder.md) | -0.8% | +3.7% |
| CORN | 2017-09-07 | [Brazil expecting record corn production - Brownfield Ag News](https://feedsoft.ai/events/68798-brazil-expecting-record-corn-production-brownfield-ag-news.md) | -1.8% | +3.2% |
| CORN | 2019-04-29 | [Record maize crop expected for Brazil in 2018/2019 season](https://feedsoft.ai/events/59423-record-maize-crop-expected-for-brazil-in-2018-2019-season.md) | +0.1% | +6.9% |
| CORN | 2016-08-25 | [Soybeans, corn down, expecting record crops - Brownfield Ag News](https://feedsoft.ai/events/12395-soybeans-corn-down-expecting-record-crops-brownfield-ag-news.md) | -7.5% | -0.6% |

## Sources

- datamarnews.com: https://datamarnews.com/noticias/brazil-expects-record-second-corn-crop/

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