A series of frosty dawns in June damaged the second-crop corn in the southern Brazilian state of Parana and prompted the state ag secretariat to lower its crop estimate by 6%.
Parana's government cut its crop forecast by 700,000 metric tons to 11.4 million metric tons due to the cold and also excessive rain.
According to state agronomists, there is a possibility that the frost losses may eventually be higher.
Brazil's second-corn crop has been adversely affected by weather this year. In particular, by hot, dry weather across the center-west in April.
As a result, second-crop corn production is now seen around 50 mmt, well below last year's 54 mmt and initial expectations of around 60 mmt.
As a result, Brazil will not be able to repeat the export performance of last year, when a record 30 mmt was shipped, and will send around 21 mmt abroad, according to private analysts.
Indeed, it appears that local consumers are in the process of buying out export contracts to ensure domestic supply, which will have to be bolstered by imports at the end of the year.
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