March 20, 2014

Brazil's soy harvest estimates cut to 86.1 million tonnes

Abiove, Brazilian crushing association, lowered its forecast for the current soy crop to a still-record 86.1 million tonnes from 88.6 million tonnes in February.

Abiove also said 44 million tonnes of soy rather than 44.5 million tonnes would be available for export.

The association does not explain why it revises its forecasts, but government and private consultancies have similarly cut their outlooks for the crop due to dry weather earlier this year.