STONEX RAISES FORECAST FOR BRAZIL’S SOYBEAN HARVEST TO 151.5 MILLION TONS

StoneX has revised its projection for Brazil’s soybean harvest for 2023-2024 to 151.5 million tons, an increase of 1.15 million tons from the previous month. Relatively good rains have helped crops—particularly those planted later. However, the crop is still 4% less than it was the previous season. StoneX has increased its forecasts for ending inventory but left its expectations for exports and domestic consumption unchanged. The corn crop forecast remained unchanged as well, but changes are expected due to the significant amount of cereal to be harvested.
Source: Forbes Agro (*Translated by Ia Niani)