Brazil corn crop to dampen prices, increase US export competition
By Aerin Einstein-Curtis, Feed Navigator
The US is not the only country expecting low feed crop prices, Brazil may be facing a similar challenge, says the USDA.
Details of feed crop production for the country were released in an agricultural attaché’s report through the Foreign Agricultural Service at the US Department of Agriculture (USDA).
Information on production of crops including corn and soybeans for countries in South America is of interest as producers are trying to picture output from countries including Brazil and Argentina, said Todd Davis, assistant extension professor in crop economics marketing and management at the University of Kentucky.
“The US corn and soybean markets benefited from a production hiccup [there] last year,” he told us. “Corn and soybean crops had production problems in Argentina and Brazil last year – as those two countries produced large crops [they create] a lot more competition in the export market.”
The export windows could be closing for us and switching to South America,” he said.
Brazil is currently seeing record corn production, increased stocks and the expectation of low commodity prices, said the USDA. However, wheat production has been reduced because of low prices.
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