Agri Commodities Preview: Global Soybeans Off Five Week High On Brazil Crop Outlook

NCDEX Soybean futures are expected to see a mixed trend though weak global cues are likely to cap the upside for the counter. CONAB Raises Brazils Soyabean Estimates For MY 2017/18. In a latest monthly crop report, Conab increased their 2017/18 Brazilian soybean estimate by 1.9 million tons to 114.9 million tons. If realized, the 2017/18 Brazilian soybean crop would be .8% larger than last years crop which totaled 114.0 million tons. The 2017/18 soybean acreage is now estimated at 35.08 million hectares (86.6 million acres), which is 3.5% more than last growing season. The 2017/18 soybean yield is estimated at 3,276 kg/ha (48.4 bu/ac), which is down 2.6% compared to last years yield of 3,225 kg/ha (47.7 bu/ac). This pulled the global Soybean futures from a near five week high. The