StoneX cut its forecast for soybean production in Rio Grande do Sul by 3 MMT to 20 MMT due to recent flooding in the far southern Brazilian state. It now forecasts Brazil’s total soybean crop at 147.8 MMT.
Meanwhile, family-owned Brazilian soy crusher and soy byproducts exporter Bianchini halted operations at its Canoas plant in Rio Grande do Sul amid severe flooding. An adjacent warehouse with 100,000 MT of soybeans was also flooded at the company’s Canoas facilities. It is unclear how much if any product can be saved from the warehouse because waters have not receded.
The company’s Rio Grande soy crushing plant and a nearby port terminal in the south of the state were still operating normally.
