Projections for the Brazilian soybean crop continue to fall
off as dry conditions persist.
U.S. Commodities president Don Roose (rose) says expectations have gone from as high as 128 million metric tons to 116 million.
“But I tell ya, it won’t take a lot over the course of the next 15 to 20 days, if we go back to this hot, dry pattern like we had the last 30 days, you could see a crop that could sink back down into that 112, 113, 114 area.”
He tells Brownfield that scenario would limit downside risk for soybeans, but the upside potential is still capped by huge supplies globally.
