In Brazil, the experts from the Conab authority expect that the unfavorable weather conditions in recent weeks have led to a significant drop in soybean yields. Despite the larger acreage, production is only expected to reach 125.5 million tons. In January, the expectation was still 140.4 million tons. The current forecast is therefore below the result from the previous year of 138.2 million tons. In its most recent WASDE report, the USDA also reduced the production prospects, but was even more optimistic at 134 million tons. The experts also cut costs for corn production. They reduced the forecast to 112.3 million tons (-0.5%).
