The Brazilian crop supply agency, CONAB, lowered corn and soybean production in its March report. Soybean production is pegged at 146.9 million metric tons, down from the February estimate of 149.4 million tonnes. Corn production is estimated at 112.7 million tonnes with second-crop corn production forecast at 87.3 million tonnes. Total corn production is down 1 million tonnes from the February estimate.
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