Bunge: Brazil to See ‘Another Big Crop Planted’ for 2017-18

Posted by Matt Hopkins|3 August 2017

Brazil is poised for large crop plantings for 2017-18, despite weaker prices, Bunge chief executive Soren Schroder said – giving an upbeat outlook for global rapeseed production too, writes Mike Verdin on Agrimoney.com.

There has been some idea that growth in Brazilian sowings of corn and soybeans may slow in 2017-18, thanks to a retreat in prices of both crops, depressed in local terms by strength in the real besides by pressures on international markets.

The International Grains Council last week forecast a 3% drop in Brazil’s corn sowings, to 16.8m hectares, citing that “average values are more than 40% lower year on year, pressured by a much more comfortable supply outlook”, although seeing area switched to soybean seedings.

“Farmers could be encouraged to shift some full-season corn area to soybeans in less productive regions given prospects for relatively poor returns,” the council said, forecasting a 2% rise in Brazil’s 2017-18 soy sowings, which start next month.

Read the full story on Agrimoney.com.