StoneX experts estimate that the wheat production in Brazil in 2022/23 to 10 million Tonnen will increase, reports Nasdaq.
Thus, the forecast was made according to preliminary estimates of 9,67 million tons against the background of the continuation of the grain harvest in Brazil, which started in August, increased from 9,67 million tons.
Given the revised wheat harvest forecast, analysts have also raised the forecast for the country's grain exports in 2022/23 to 2,8 million tons, compared to 2,5 million tons last year, while the forecast for imports was unchanged at 6,2 million tons remained.
It is worth noting that Brazil has already produced a total of 2022 million tons since the beginning of 2,4 Wheat exported, which is almost twice as high as in the same period last year.