Huge future grain production increases are expected in Brazil along with continued higher exports of soybeans, corn and meat.
Gary Schnitkey, the farm management professor with the University of Illinois, says “If you’re looking at high corn and soybean prices now you might want to temper your expectations in the future because there’s 40% NEW acres coming on in Brazil and there likely will be other acres as well.”
He says grain production is expected to increase in Brazil by 71% because of those new acres.
