Brazil Soybean Output Seen at 184 Million Tons as Planted Area Expands

Brazil’s soybean production outlook was raised to 184 million tons as planted area expanded, marking a record for a third consecutive year. According to Jin10, the U.S. Department of Agriculture’s Foreign Agricultural Service said the higher projection was driven by increased acreage. The agency also noted that El Nino-related weather risks and rising costs could constrain yields, raising uncertainty over whether the bumper harvest will be realized.