Clayton Pope Commodities President Clayton Pope says the Brazilian soybean crop estimates continue to be above last year’s production. “Even some of the lower end yields are still a bit above what Brazil produced one year ago,” says Pope. “There’s no question the U.S. and world carryover for beans are dramatically lower than we’ve seen in awhile. We’re playing with fire here, but for right now, it looks like supplies might be able to squeak through.” Pope says its too early to estimate South American production with the growing season beginning. “They’ll really need more rain moving forward. They’re not even done planting in South America yet. We’re in the early innings of this game.”
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