Brazil’s equivalent of the USDA is projecting a record soybean crop and a rebound in corn production.

CONAB is estimating soybean production at 141.3 million tons, which would be up more than 5.3 million from the previous crop, which was record large. Soybean planting starts in mid-September and most analysts are projecting an increase in acreage as Brazil tries to meet demand expectations, especially from China, but that will depend on how the expected La Nina pattern impacts yield.

…