According to USDA-FAS GAIN report BR2021-0023 dated June 21st, the latest update for corn production in Brazil has been reduced by 11 million metric tons (433.4 million bushels) to 94 metric tons (3.7 billion bushels) for the season covering March 2021 through February 2022. The shortfall was caused by a La Nina event, resulting in drought conditions from August through November 2020 in Southern Brazil. The deterioration in the second-crop ("Safrina") was due to delayed planting.  The impact of lower yield (89.4 bushels per acre) was partly offset by expansion of the harvest area by seven percent to 49.6 million hectares.

According to the most recent projection, 50.6 million acres will be harvested yielding 116.0 million metric tons (4.6 billion bushels) for the 2021/2022 production year commencing March 2021.  Imports will amount to 1.75 million metric tons (69.0 million bushels) with 40.0 million metric tons (1.6 billion bushels) exported in the market year.  The GAIN report projected a yield of 5.73 metric tons per Ha. (90.3 bushels per acre)

For comparison the June WASDE Report #613 projected U.S. corn production at 14.9 billion bushels from a harvest area of 83.5 million acres with a yield of 179.5 bushels per acre.

The report noted strong domestic demand from the poultry and livestock sectors and expansion of ethanol production.