The USDA has made modest revisions to its South American corn and soybean production estimates.
For corn, the USDA cut Argentina’s estimate 2 million tons to 53 million because of leafhopper and disease damage, and lowered Brazil’s combined crop 2 million tons to 122 million, partially due to hot, dry weather in central and northern growing areas.
The USDA left Argentina’s soybean guess unchanged from April at 50 million tons, while reducing Brazil 1 million tons to 154 million.
