May 13, 2013

Brazil receives lower projection for corn and higher projection for soybean in 2013

Analysts at Informa Economics has cut its forecast for Brazil's 2013 corn production, but increased its figure for soybean production.

In its May World Crop Report, the analysts cut Brazilian corn production by 3.6 million tonnes to 66.4 million tonnes. However, it raised its soybean production forecast for 2013 by 1.7 million tonnes to 76.3 million tonnes, with main soybean production up by 450,000 tonnes to 35.2 million tonnes and winter soybean production up by 1.2 million tonnes to 41.1 million tonnes.