Brazil's Conab raises soy, corn output estimates as season draws to a close

By Ana Mano

SAO PAULO, Sept 11 (Reuters) - Brazilian farmers harvested a record 171.47 million metric tons of soybeans and a record 139.67 million tons of corn in the 2024/2025 season, Brazilian crop agency Conab said on Thursday in its final grain production report covering the period.

The final numbers represent a 1.82 million ton increase in soybean output and a 2.67 million ton hike in total corn production expectations compared to Conab's August forecast.

Conab also revised soy area and yields for all seasons between 2020/21 and 2024/25, resulting in a cumulative increase of 13.12 million tons in estimated production during the period.

Crushing data and soybean carryover stocks were also adjusted in the broad revision, Conab said.

The agency upped Brazil's soy export forecast for the 2024/25 season, saying the country will ship 400,000 tons more than it expected last month, or 106.65 million tons.

Brazil sells most of its soybeans to China and continues to book sales due to stalled trade talks between the United States and China halfway through the prime of the U.S. soybean marketing season.

Meanwhile, the new total corn production forecast reflects an expected increase of almost 2.5 million tons in Brazil's second corn output, Conab said.

Brazil's second corn is planted after soybeans are harvested in the same areas and is mainly exported in the second half of the year, in direct competition with U.S. farmers.

Brazilian farmers, who have nearly finished harvesting their 2024/2025 second corn crop, have already begun cultivating their 2025/2026 first corn in southern Brazil, Conab said.

"Although the temperatures were not ideal, the frequency and volume of rainfall allowed for good water retention in the soil," Conab said about Brazil's first corn.

Brazilian farmers also began sowing their 2025/2026 soy crop in Parana state and could harvest north of 180 million tons in the new season, according to private forecasts.