CONAB adjusts Brazil corn, soybean guesses slightly

CONAB adjusts Brazil corn, soybean guesses slightly

Brazil’s equivalent of the USDA continues to project record soybean and corn production.

CONAB now has Brazil’s soybean crop at 151.419 million tons, 1% less than the February guess because of drought in some southern growing areas, but still 20.6% above a year ago due to generally improved weather and increased planted area.

Brazil’s second corn crop, the largest of their three, is estimated at 95.605 million tons, up 0.7% on the month and 11.3% on the year, but CONAB says part of the crop will be planted after the optimal window, which could impact yield.