Brazil’s equivalent of the USDA says corn and soybean planting are progressing and both crops are on pace for record production.

According to CONAB, 55% of soybeans have been planted as of last Friday, just behind average after the early dry weather delays, with production estimated at 135 million tons, and first crop corn planting is 54% complete, ahead of normal, with the crop expected to total 104.9 million tons.

Brazil’s second corn crop is much larger and the source of most of their exports, but that’s planted after soybeans are harvested.

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