The USDA’s Foreign Ag Service has lowered its outlook for Brazil’s soybean crop.
The FAS now projects production at 136 million tons, 3 million less than the official estimate and 4.5 million below the most recent guess from the Brazil’s equivalent of the USDA, CONAB. 2020/21 production totaled 137 million tons according to the FAS and 138 million tons per official USDA records.
The reductions are due to hot, dry weather in southern growing areas and excessive rainfall in parts of northern and central Brazil.
