StoneX Trims Brazil Soy Crop Outlook to 150.8M Tons

Forecast for Brazil’s soy production in current crop is now at 150.8 million tons, down 0.5% from previous estimate in March, StoneX said in an emailed message Monday.

• Estimate reduction due to output decrease expected for states of Mato Grosso do Sul, São Paulo and Paraná: StoneX
  • Soy production to be 4.7% smaller than last crop season if confirmed
• Final stocks outlook cut to 2.89m tons, down 11% from last month forecast, exports still at 93m tons
• Corn production estimate now at 124.23m tons, 0.2% lower than previous estimate and 11% smaller than last season: StoneX
  • Winter crop seen 0.2% smaller than in March as StoneX cut estimates for two states and raised for other two
  • Forecasts indicating climate may become drier in some regions are already raising concerns on corn, according to StoneX