The USDA’s Foreign Ag Service has lowered its outlook for Brazil’s soybean crop.
The FAS has cut their outlook to 158.5 million tons, 2.5 million under the official guess, because of weather impacting planting and development. Those weather issues include hotter and drier than normal weather in central and western Brazil and excessively wet conditions in parts of southern Brazil.
That expected reduction in production is expected to have a minimal effect on exports because of a large carryover from last year’s crop.
