São Paulo – The Brazilian Institute of Geography and Statistics (IBGE) revised down to 228.1 million tons its crop forecast regarding cereals, oilseeds and pulses this year.
The estimate from May is down 0.8% and 1.9 million tons from April. If the number proves true, the crop will be down 5.2% from 240.6 million tons in 2017.
The reduction in output will be driven by a 15.1% drop in the maize harvest and a 7% drop in rice. Soy output is seen going up 0.7% to 115.8 million tons, an all-time high.
Translated by Gabriel Pomerancblum
PUBLICIDADE
