Brazil and Argentina both are expecting worse soybean production compared to last year, due to damaging drought. When Paraguay losses are factored in, the South America soybean production deficit expands to 12.87 million metric tons.
Brazil Soybeans Pegged 5% Lower in March Report
The USDA slashed the Brazil soybean production estimate today, reducing the harvest to 68.50 million metric tons compared to 75.50 MMT las year. The outcome of this year’s harvest hinges heavily on Mato Grosso , Brazil's largest soybean state, where an abundant harvest is required to offset losses in South Brazil from drought... subscribers continue to full story...