Brazil Soybean Forecast Raised to 83 Million Tons: Conab

Mario Sergio Lima – Bloomberg, 11/08/2012

Soybean output in Brazil, set to surpass the U.S. as the largest grower, will rise more than previously expected in the current season, the government said.

Growers will harvest as much as 83 million metric tons in the year that started Sept. 1, more than the 82.8 million tons estimated last month, the Agriculture Ministry’s crop- forecasting agency, known as Conab, said in its second report for this season. Production will rise from 66.4 million tons collected in the past season.

The corn forecast was cut to as much as 72.9 million tons from 73.2 million tons estimated in October. Production will drop from 73 million tons in the previous season, Conab said.

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