The Brazilian Institute of Geography and Statistics released on Thursday, July 10, a commodity projection for 2023. According to the forecast, soybean, corn, wheat, sorghum, and cotton are all expected to achieve record-high production levels. The harvest should total 308.9 million tons, up 45.7 million tons from the previous year. Soybean output is estimated to reach 148.8 million tons. In the United States, total corn production is expected to reach 125.2 million tons. The national corn crop for the first harvest is estimated to reach 28.1 million tons, while the second is predicted to produce 97.1 million tons. Wheat output is expected to reach 10.8 million tons.
Source: Dinheiro Rural (*Translated by Ia Niani)