CONAB raises corn, soybean estimates modestly

CONAB raises corn, soybean estimates modestly

Brazil’s equivalent of the USDA has increased its expectations for soybean and corn production slightly.

CONAB says the month to month increases in both corn and soybeans followed upward revisions to planted area totals, but production for both crops will be below a year ago because of widespread weather issues faced throughout planting, development, and harvest.

This round of numbers does not include the recent flood damage to soybeans in southern Brazil or the full impact of hot, dry weather on second crop corn in central and northern Brazil.

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