USDA did not change its old crop corn and soybean estimates for Brazil from the April WASDE report at 116 million metric tons and 125 million metric tons, respectively. USDA lowered Argentina’s old crop soybean forecast slightly. Soybean and Corn Advisor consultant Michael Cordonnier says USDA offered a glance at South America’s new crop production. “USDA put a pretty big number for the soybean crop at 149 million metric tons. That would be a big increase for Brazil next year.” Cordonnier is more interested in what CONAB had to say. Cordonnier is surprised to see CONAB’s increase in corn production. The increase is due, almost entirely, to increased acres for the second crop corn. “The Brazilian National Weather Service has a frost or freeze warning coming across Southern Brazil. The record low temperatures could affect the second crop corn, but the crop isn’t in the bin.”
News Categories
Latest RRFN Podcasts
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.