Brazil’s crop supply agency CONAB held corn production steady and lowered soybean production in their March production estimates. CONAB says Brazil’s farmers will produce 122.8 million metric tons of soybeans this year. That is down 2.7 million tonnes from the February estimate. USDA is currently estimating Brazil’s soybean production at 127 million tonnes. CONAB estimates corn production at 112.3 million tonnes, unchanged from February. USDA is currently at 114 million metric tons.
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