Brazil's corn crop larger than forecast, increased its purchase of fertilizer from Russia 63%

Initial fears that Brazilian farmers would suffer because of difficulties accessing fertilizer from Russia and Belarus have proven wrong, according to a new report from USDA's Foreign Agricultural Service.

Brazil, which imports about 85% of its fertilizer needs from Russia, Canada, China, Morocco, the United States, and Belarus, has increased purchases this year, and FAS has raised its forecast for yields.

Brazil's fertilizer imports from Russia in May were 63% higher than the same month last year, according to FAS. The agency now estimates Brazil will produce 120 million metric tons of corn this year - up from 116 million last year.

Brazil's second and largest corn harvest this year - the safrinha - is well under way, according to the consulting firm AgRural. The harvest in the center-south region that includes the largest-producing state of Mato Grosso is 31% complete as high temperatures push farmers to work faster.