The US Department of Agriculture (USDA) has raised its estimates for Brazil’s soyabean and corn crops in 2018/19. According to the agency, the Brazilian soyabean crop in the season is expected to be 117 million tons, compared to 116.5 million tons in March forecast, also above market expectations of 116.19 million tons. The corn crop, in turn, was forecast by USDA at 96 million tons, up from 94.5 million tons in March and 94.83 million tons expected from the market.
Source: Reuters