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Crop consultant Dr. Michael Cordonnier initially projects South American soybean and corn production at the following levels:
- South American soybean production of 211.0 MMT, up 38.3 MMT (21.3%).
- Brazil soybean production of 151.0 MMT, up 25 MMT (19.8%).
- Argentina soybean production of 50 MMT, up 6 MMT (13.6%).
- Paraguay soybean production of 10.5 MMT, up 6.3 MMT (150%).
- South American corn production of 187.5 MMT, up 11.6 MMT (6.5%).
- Brazil corn production of 125.5 MMT, up 9.5 MMT (8.2%)
- Argentina corn production of 55.0 MMT, up 2.0 MMT (3.8%)
- Paraguay corn production of 5.0 MMT, unchanged.
While the initial production outlook is strong, Cordonnier says with La Niña still present, it could impact South American crops for a third year in a row.
