Brazil Raises Soybean Forecast as Rain Aids Crops

Soybean farmers in Brazil, the world’s second-largest grower, may produce more of the oilseed next year than previously forecast after rainfall in recent months helped crops, the Agriculture Ministry said.

Farmers will produce between 62.5 million metric tons and 63.6 million tons of soybeans next year, up from an October estimate of 62.3 million to 63.3 million tons, the ministry’s Conab crop-forecasting agency said today in an e-mailed report. Production will rise from 57.1 million this year........Full article here..