According to the United States Department of Agriculture, the current cycle has advanced significantly, and it continues to have a positive outlook for the 2023–2024 season. The US government agency has updated its prediction for overall corn production in Brazil to 132 million tons, an increase of 2 million tons. With harvest already complete, the expectation for 22/23 soybean production was raised 1 mm tons to 156 million tons. The USDA hasn’t changed its estimate of Brazil’s new crop (2023–2024), which is 163 million tons of soybeans and 129 million tons of corn.
Sources: Reuters/Forbes Agro (*Translated by Ia Niani)