January 6, 2020 / 5:40 PM / 16 days ago

Brazil's corn crop in the South hit by drought: FCStone

SAO PAULO (Reuters) - The corn crop in Brazil’s Rio Grande do Sul, the country’s number 3 grain producing state, will likely be reduced by 20% from initial estimates due to a severe drought, broker and consultancy INTL FCStone said on Monday.

The broker cut its estimate for the state’s corn production to 4.8 million tonnes from 6 million tonnes projected previously. With the damage in the South, Brazil’s corn production in the first crop (summer crop) will fall 3.4% from initial projections to 25.75 million tonnes, FCStone said.

Reuters reported last week that farmers were having problems with lack of rains in the region.

Reporting by Marcelo Teixeira and Roberto Samora; Editing by Chizu Nomiyama

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