Brazil’s equivalent of the USDA has increased its corn and soybean production projections.
CONAB says November rain coverage was good in many key growing areas, pushing planting ahead of average and aiding early development, but that rain missed southern portions of the country, causing some stress. That is in-line with the La Nina weather pattern and is also impacting crops in parts of Argentina.
CONAB sees soybean production at a record 142.79 million tons, up a half a percent from November and 4% from 2020.
