"We have been talking to farmers, and I think we may have a harvest that is equal or larger than expected," he said in an interview. Conab, the government's food supply and statistics agency, is expected to release a forecast on the soy harvest on Tuesday.

Novacki said he expects to reach an agreement with the United States soon on the ban on Brazilian fresh beef, and said Brazil has already sent information requested by the US government.

Brazil may soon start buying Russian wheat, he added, as part of negotiations with Russia about another ban on Brazilian beef.