CONAB raises Brazil soybean, corn guesses again

Brazil’s equivalent of the USDA has raised its already record large corn and soybean production estimates.

CONAB now sees Brazil’s soybean crop at 154.811 million tons, 0.8% more than in April and up 23.3% from last year following an increase in planted area and better yields. The soybean harvest is nearly over with exports projected at a record 95 million tons, with Brazil holding most of the global market share due to a big price advantage.

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