2023/24 Brazil soybean production is unchanged at 150.6 [147.1–154.0] million tons, as recent warmth and dryness bode well for harvest and late season crop dry-down. Our current median estimate is 4.4 million tons below the USDA’s World Agricultural Outlook Board (WAOB)’s 155 million tons, which assumes soybean sowings at 45.9 million hectares and national level yield of 3.38 tons per hectare (tph) (vs. LSEG Ag Research’s 46 million hectares and 3.27 tph, respectively). Brazil’s agriculture state agency (CONAB) has recently pegged soy production and area at 146.9 million tons and 45.2 million hectares, respectively. Both USDA and CONAB have revised downward their Brazil production estimates compared to last month, directionally in line with what we have been calling for since the beginning of the season. As of 17 March, Brazil’s soybeans were 61.9% combined nationally according to the latest CONAB crop progress report (18 March), on par with last year’s pace of 62.5%. Into the second half of March weather conditions should remain similar to those experienced over the past few weeks, through slightly wetter conditions may prevail through next week, warranting attention.