Brazil’s equivalent of the USDA has made more cuts to their domestic corn and soybean crop estimates.

CONAB now has soybeans at 146.522 million tons, 0.2% less than March and 5.2% lower than a year ago, impacted by planting delays and lower yields caused by hot, dry weather in center-west and southeastern growing areas.

Brazil’s soybean harvest is about 80% complete.

Second crop corn is nearly planted with an estimate of 85.6 million tons, down 2% on the month and 16.4% on the year, primary because of dry conditions during much of March for a couple of the top production states.

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