Indigo, which uses satellite technology to make its crop production estimate, is calling for a significant downturn in the condition of Brazil’s soybean and corn crops. Indigo is forecasting at 113.2 million ton soybean crop and an 89.6 million ton corn crop. Both figures are well below USDA’s December estimate. Indigo, which is a U.S. crop forecasting company, says dry weather hurt Brazilian beans during the critical pod-filling stage.
