The USDA has lowered its outlook for 2022 South American soybean production.
The move follows an extended period of generally hotter and drier than normal weather in portions of Argentina, southern Brazil, and Paraguay, consistent with La Nina conditions.
The USDA has Brazil’s soybean crop at 134 million tons, down 5 million from January, with Argentina at 54 million tons, 1.5 million lower, and Paraguay at 6.3 million tons, a decline of 2.2 million on the month.
