the production of Soy From United States will be higher than previously anticipated as higher-than-expected yields will more than offset a cut in acreage, the country’s government said on Friday.
the production of corn was estimated below the projection released in July.
The U.S. soybean harvest will reach a record 4.531 billion bushels, while the corn crop has been set at 14.359 billion bushels, according to the U.S. monthly supply and demand report. US Department of Agriculture (USDAin English).
In July, the USDA projected 14.505 billion bushels for corn and 4.505 billion bushels for the country’s soybeans.
Analysts had expected the report to show corn production of 14.392 billion bushels and a soybean crop of 4.481 billion bushels, based on the average of estimates measured in a survey by Reuters.
For the Brazilthe USDA maintained its projections of 149 million tons for soybean production in the 2022/23 crop, which starts to be planted in September, and 126 million tons for corn.
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Source: Moneytimes
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