Update with more details in bullets 2-3

SAO PAULO, July 1 (Reuters) - The second corn crop in Brazil is seen at 107.5 million metric tons for the 2025/2026 season, consultancy firm StoneX said on Wednesday, increasing its estimate by 1.4% from a previous June outlook.

• The second corn crop, which is being harvested and represents the bulk of Brazil's production, is planted after soybeans are harvested in the same fields.

• Outlook for the planting area in Brazil's top farming state of Mato Grosso was raised, StoneX noted, as well as productivity for other states.

• "The progress of the harvest has shown good results in many parts of the country, and rainfall in June benefited late-planted areas," the report said.

• Outlook for Brazil's 2025/26 total corn production was increased by over 1 million tons to 138.4 million tons, StoneX said.

• Brazil is the third-largest producer of corn and one of the world's main exporters.

SOYBEANS

• StoneX ticked up its estimate for Brazil's 2025/26 soybean production by 0.1% to 182.1 million tons.

• The consultancy said it will release its first estimate for Brazil's 2026/27 soybean crop in August; planting is set to start in September.