The president of Corn and Soybean Advisor says he’s lowering estimates for Brazil’s corn and soybean production due to the continued hot and dry conditions.
Michael Cordonnier tells Brownfield “currently, I’ve got Brazil’s soybean production at 160 million tons and corn production at 123 million tons. I dropped both two million tons.”
Brazil is still expected to have record soybean production, but expectations are unclear for corn production. Brazil’s slow soybean planting progress will delay second-crop corn planting. He says it will also affect how many acres are planted and that will provide an opportunity for U.S.