CONAB trim production (soybean) estimates
Amid what has been an ongoing drought in southern Brazil, downgrades to production have been no great surprise, but it waits to be seen if the USDA also reflects drought impacted production estimates.
Soybean production estimates were downgraded from 142.8Mt to 140.5Mt, while the USDA estimated 144Mt in the December WASDE, watch for downgrades tomorrow.
Corn production estimates were also downgraded, with total corn estimated at 112.9Mt, down from 117.2Mt, while the USDA estimated 118Mt in the December WASDE.
With drought conditions also impacting Argentina, watch out for further trims to South American production estimates in the January WASDE and other supply and demand estimates.
Read also
Wheat in Southern Brazil Impacted by Dry Weather and Frosts
Oilseed Industry. Leaders and Strategies in the Times of a Great Change
Black Sea & Danube Region: Oilseed and Vegoil Markets Within Ongoing Transfor...
Serbia. The drought will cause extremely high losses for farmers this year
2023/24 Safrinha Corn in Brazil 91% Harvested
Write to us
Our manager will contact you soon