USDA is forecasting Brazilian corn production at 85 million metric tons. That’s down two million tons from last month, but was within trade expectations. Brazilian soybean production is estimated at 119 million metric tons, up two million tons from last month. In Argentina, USDA left its corn estimate unchanged at 33 million metric tons. The Argentine soybean production estimate is at 37 million tons, down from 39 million last month.
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