CONAB raises Brazil corn, soybean estimates

Brazil’s equivalent of the USDA has increased its outlooks for corn and soybean production. CONAB says total grain and oilseed production will fall below initial estimates, but at 271.284 million tons, will be the largest combined crop on record for that nation.

The preliminary total for Brazil’s soybean crop is 124.268 million tons, slightly larger than the May guess, but down 10.1% from 2021 due to weather issues in some southern growing areas.

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