Ad Astra Brands

USDA expected to adjust South American crop production in upcoming report

SHARE NOW

A market analyst with Total Farm Marketing says he’s looking forward to seeing USDA’s forecast for South American crop production in today’s supply/demand report.

John Heinberg tells Brownfield continued dry conditions in Brazil are likely to encourage a lower crop production forecast. 

“In terms of the soy side of the equation for Brazil, we’re expecting production at 160 million metric tons, down 3 million metric tons from the November projections.”

CONAB, Brazil’s equivalent of USDA, has already lowered its corn and soybean production estimates.

USDA expected to adjust South American crop production in upcoming report