Winnipeg, Nov. 3 – Brazil could export a record 31 million to 34 million tonnes of corn by the end of the 2015-16 marketing year, said Pedro Dejneka, the executive director of AgResource’s Latin America division, speaking at the Cereals North America conference in Winnipeg on Nov. 3.
It corn exports are already running well ahead of the pace needed to surpass the previous record of 24 million tonnes, set in the 2012 marketing year, he said.
Brazil produced a big crop even though much of it was planted outside the ideal planting window.
He expects this export trend to continue as long as the weak Brazilian currency keeps “getting beat up”.
His counterpart, Dr. Bill Tierney, who is also a director with AgResource, noted this trend could change however if China’s corn imports were to drop, or if countries around the world rolled back mandates for biofuel consumption.
Brazil is already selling corn for 2016-17, Dejneka said.
