Brazil lowers corn crop harvest estimates
Drought causes corn farms to reduce output
Brazil lowered its harvest estimates for the 2011-2012 summer corn forecast, saying a 13-week drought has caused corn growers to reduce output in a key growing region in that country.
Brazil lowered its corn forecast by 4.3 percent from December 2011's estimated 36.44 million metric tons to 34.88 million metric tons, according to AgRural Commodities Agricolas. According to the crop forecasting firm, Brazil harvested 35.93 million tons over the same period last year.
AgRural said Brazil's southern states of Rio Grande do Sul, Santa Catarina and Parana reduced output by 13 percent to 12.86 million tons due to an extended dry season followed by heavy rains.