CONAB Estimate Released

Crop supply agency, CONAB, estimates Brazil’s corn production at 124.7 million metric tons, up 9 million tonnes year-over-year on record planted acreage. The Safrinha corn crop production is estimated at 97.9 million metric tons. CONAB is forecasting Brazil’s soybean production at a record 167.9 million tonnes, up 20 million tonnes from last year.