The USDA’s Foreign Ag Service is projecting a record soybean crop for Brazil.
The office says many producers were able to get an early start to planting thanks to favorable conditions, anticipating an increase in acreage due to high domestic prices and strong export demand expectations, but the likely La Nina weather pattern would trim yields.
The FAS expects production to be 145 million tons, up 1 million from the USDA’s official guess and 8 million more than the 2020 total.
