Lanworth raises Brazil corn harvest view after April rains

Wed May 8, 2013 8:30am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

CHICAGO May 8 (Reuters) - Crop forecaster Lanworth raised its estimate of corn production in Brazil by nearly 2 percent on Wednesday, following heavy rains in key production areas in April.

Lanworth said it expects the 2012/13 corn harvest in Brazil to be 78.5 million tonnes, up from its previous estimate of 77.1 million tonnes.

"April precipitation exceeded normal by 20 to 30 percent in core production districts of Mato Grosso and Mato Grosso do Sul, maintaining near normal soil moisture as the dry season began," Lanworth said in a report.

Lanworth also cut its forecast for 2013/14 wheat production in Australia to 24.3 million tonnes from 25 million, citing dry conditions in the state of Victoria.

It also lowered its outlook for 2013/14 Ukraine wheat production to 21.9 million tonnes from 23.3 million due to warm and dry conditions.

The forecaster trimmed its 2013/14 China corn production estimate by 1 million tonnes to 216 million and raised its 2013/14 U.S. wheat production estimate by 2 million bushels to 2.009 million.

Lanworth is a brand of Thomson Reuters Commodities Research and Forecasts. A Lanworth spokesman said the reported estimates are the midpoints of confidence ranges.

The full report is available to Thomson Reuters Eikon Commodities subscribers at: