LatinNews Daily - 11 October 2023

* Brazil’s national statistics institute (Ibge) has updated its forecast for the 2023 harvest of grains, cereals, legumes, and oilseeds, based on the latest figures from September. The Ibge projects a record harvest of 318.1m tonnes (t), which would mark an increase of 54.9m t (+20.9%) compared to the 2022 harvest. The total land area used for cultivation is expected to reach 77.8m hectares (ha), up 4.6m ha (+6.3%) from the cultivation area in 2022. The strong 2023 forecast is mainly driven by soya and maize. The soya harvest is forecast to reach 151.2m t (+26.5% from last year), while the forecast for maize is 131.7m t (+19.6%). In terms of regional contributions, the central-western state of Mato Grosso is projected to provide 31.3% of the national grain harvest this year, followed by the southern state of Paraná (14.5%).