USDA bumped Argentina’s corn production in the May Supply and Demand report from April estimate of 48.2 to 49 million tonnes. Brazil’s corn production increased from 96.6 million tonnes to 100 million tonnes. Brazil’s soybean production is estimated at 117 million tonnes, unchanged from the April estimate. USDA raised the Argentine soybean production one million tonnes to 56 million tonnes from the April estimate.
