Brazil soy crop forecast rises to average 112.6mn T

SAO PAULO: Optimism related to the size of Brazil's grain crop in the 2017/18 cycle has gathered momentum, with forecasters now indicating production of soybeans nearing the record of 114.1 million tonnes harvested in the prior season.

According to the average of 11 forecasts compiled by Reuters, Brazil is expected to harvest 112.6 million tonnes of soybeans this year, more than the 110.2 million expected in a January survey. On Thursday, the Brazilian and US governments are expected to update their own forecasts for Brazil's grain production this season.