Brazil's 2016/17 soybean crop forecast raised to 111.6mn

SAO PAULO: Brazil's 2016/2017 crop forecast was raised to 111.6 million tonnes from the 107 million tonnes seen in March, according to a statement on Friday from agricultural consultancy firm AgRural, which cited favorable climate conditions.

The consultants also raised the forecast for the 2016/2017 summer corn crop to 30.2 million tonnes while keeping the winter corn crop projection unchanged at 61.4 million tonnes. Brazilian soybean farmers have already harvested 82 percent of the planted areas, up from 74 percent last week and 78 percent of the last five years, AgRural said.