Brazilian soybean production set to outdo US

The US Department of Agriculture (USDA) forecasts a record soybean crop in Brazil for the 2019/20 year, at 123.5 million metric tons (mmt). Their latest report on the Brazilian oilseeds market predicts that there will be 44mmt of soybeans destined for processing meal and oil. Meanwhile, the latest forecast from the World Agricultural Supply and Demand Estimate (WASDE) forecasts the US soybean harvest will be less than 100 mmt in 2019/20, a drop of almost 20% on the previous season.

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Source: Feed Navigator