Global Commodity Analytics and Consulting President Mike Zuzolo is questioning the wide difference between Brazil’s CONAB production numbers and the USDA WASDE numbers. “The CONAB corn number is now 10.3 million tons lower for Brazil versus USDA’s updated numbers. CONAB soybean numbers are down 6.6 million tons versus USDA’s updated number. This is the second month in a row and I’m starting to wonder if the trade is going to have to start scrutinizing these numbers a little bit more.” Zuzolo says demand is the most concerning number in the report.
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