Brazil’s crop supply agency CONAB raised its soybean and corn production estimates in the February crop report. CONAB expects Brazil’s farmers to produce a record 133.8 million metric tons of soybeans and near record 102 million tons of corn this season. CONAB raised soybean planted area by 30,000 hectares to 38 million hectares. Brazil’s second crop corn area is pegged at 14.4 million hectares with total second crop corn production projected to be 80 million metric tons.
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