LatinNews Daily - 11 November 2020

* Brazil’s national statistics institute (Ibge) has released its first estimate for the 2021 harvest of grains, cereals, legumes, and oilseeds, which it forecasts will total a record 253.2m tonnes, a 0.5% increase on this year. The 2020 harvest is expected to come in at 252m tonnes, according to the latest October forecasts, which would represent a 4.4% increase on production levels in 2019. Soya and the first maize harvest are expected to drive next year’s increased yield, while the production of rice, cotton, and the second maize harvest are forecast to decrease compared with this year. The Ibge’s agriculture and livestock analyst, Carlos Barradas, cites the high price of commodities on the international market as driving investment in the production of soya and maize.

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