News

CONAB increases soybean crop forecast

Crop experts in South America are projecting record corn and soybean production for Brazil. 

CONAB, the Brazilian equivalent to the USDA, has soybean production estimated at 153.6 million tons, an increase from the March guess.  The projected increase comes from a rise in acres and better yields.

The combined corn crop is projected at 124.88 million tons, down slightly from last month.  That is largely due to the production increases in the first crop (nearly 9%) at 27.24 million tons and the second crop (an 11% increase) at 95.32 million tons.

The organization says final production is still largely dependent on weather for the remainder of the season.

Brazil is also reporting a growth in sorghum acres because of its drought tolerance as farmers saw the ideal planting window close in some regions.  Production is expected to exceed 3.7 million tons. 

CONAB’s next round of estimates for Brazil is out May 11th.

Add Comment

Your email address will not be published.


 

Stay Up to Date

Subscribe for our newsletter today and receive relevant news straight to your inbox!