The US Department of Agriculture (USDA) released its report on the outlook for soyabean production. According to the entity, Brazil and the United States must change roles, with the Americans producing something around 112 million tons and Brazilians 123 million tons. The market had expected the USDA to point to a reduction in the estimate for the US soyabean crop in 2019/2020 to somewhere around 111.3 million tons, but the outlook was exactly the same as in May. In the previous harvest (2018/2019) US production stood at 123.6 million tons. Brazil: Brazilian production for the new harvest is still in the speculative field, since there is no plantation at this time, so the American entity maintained the prospect of a production of 123 million tons in the 2019/2020 harvest. In the previous harvest, USDA’s production for the country was 117 million tons, well different from the 114 million tons estimated by the National Supply Company (Conab).
Source: Canal Rural