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Brazil Soybean Forecast Raised to 71.8 Million Tons
Jan. 16, 2012
Soybean growers in Brazil, the world’s second-largest producer after the U.S., will probably harvest 71.8 million metric tons this year, more than previously estimated, the Agriculture Ministry said.
The outlook was raised from 71.3 million tons estimated Dec. 8, the ministry’s Conab crop forecasting agency said today in an e-mailed statement. Output will fall from 75.3 million tons last year.
Corn output was forecast at 59.2 million tons, less than the 60.3 million estimated previously and up from 57.5 million tons last year, Conab said.
Source: Bloomberg
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