LatinNews Daily - 07 September 2023

* The Companhia Nacional de Abastecimento (Conab), the logistics arm of Brazil’s agrarian development ministry, has released the latest figures for grain crop production, which showed that the 2022/23 harvest cycle registered a record 322.8m tonnes (t). This marked an increase of 18.4% compared to the previous harvest cycle. The total land area used for crop cultivation was also greater compared to the last cycle, with 78.5m hectares (ha) used in 2022/23. The final production figure surpassed Conab’s initial forecast of 312.4m t. Soybean production hit a record 154.6m t, up 23.2% from the previous harvest. The maize harvest, although not yet complete, is also expected to reach a record high. Conab forecasts a production figure of 131.9m t. Rice was the only staple crop which saw a drop in production compared to the previous harvest, registering 10m t, marking a decrease of 6.9%.