The USDA has kept its predictions for Brazil’s 2023-24 soybean crop unchanged at 163 million tons, with exports forecasted to be at 97.50 million tons. For the 2022-23 season, the estimate for Brazilian production remained at 156 million tons, while exports increased to 95.5 million tons. The USDA has not changed its forecast for Brazil’s corn production in 2023-24, which remains at 129 million tons, with exports expected to be at 55 million tons. The projections for the 2022-23 harvest stayed the same, with 137 million tons of production and 57 million tons of exports. Argentina’s soybean crop is expected to be 48 million tons in 2023-24, with exports projected at 4.60 million tons. The USDA has increased its forecast for Argentine corn output to 55 million tons in 2022-23, as well as its forecast for exports to 41 million tons.
Source: Dinheiro Rural (*Translated by Ia Niani)