Commodities Buzz: CONAB Raises Brazilian Soyabean Crop For MY 2017/18

In their latest monthly report , Conab increased their 2017/18 Brazilian soybean estimate and they lowered their 2017/18 Brazilian corn estimate.

The Brazilian soybean estimate was increased 1.0 million tons to 118.0 million, which is a new record large production. Last year, Brazil produced 114.0 million tons of soybeans. The soybean acreage was increased 40,000 hectares to 35.1 million hectares (86.6 million acres) and the soybean yield was increased 26 kg/ha to 3,359 kg/ha (47.0 bu/ac).

The total 2017/18 Brazilian corn estimate was lowered 4.2 million tons to 85.0 million. The full-season corn production was increased 0.5 million tons to 26.7 million while the safrinha corn production was lowered 4.7 million tons to 58.2 million.