USDA made no changes to size of Brazil’s crop and cut Argentina’s corn production by one million tonnes in Thursday’s supply and demand report. “That creates a bigger divergence and separation between the Argentine production estimates by the Argentine Grains Exchange and CONAB in Brazil,” said Mike Zuzolo, president, Global Commodity Analytics and Consulting. “If you combine those for Brazil and Argentina, we’re talking about 15 to 18 million metric tons tighter production number from those agencies versus USDA’s numbers for the corn and 10 to 11 million metric tons for the soybeans.”
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