USDA trimmed Brazil’s soybean production to 125.0 MMT, down 2.0 MMT from its March report and 14.5 MMT below last year. Paraguay’s soybean crop was estimated at 4.2 MMT, down 1.1 MMT from the March report and 5.7 MMT below last year. Argentina’s soybean crop was unchanged from the March report at 43.5 MMT.
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USDA increased Brazil’s corn crop by 2.0 MMT from March to 116.0 MMT. Its corn production estimates for China, Argentina, Ukraine and South Africa were unchanged from March.
For global wheat production, USDA increased Argentina’s production by 500,000 MT from the March report to 21.0 MMT. The EU crop was estimated at 138.42 MMT, down 580,000 MT from March. It left the production forecasts for China, Russia, Australia, Ukraine and Canada unchanged.
