StoneX cuts Brazil’s 2024/25 soybean and corn crop forecast
Brazil’s 2024/25 soybean crop is expected to be 167.54 million tonnes, consultancy StoneX said on Tuesday, downgrading its forecast from a previous estimate of 168.34 million tonnes, mainly due to unfavourable weather conditions in Rio Grande do Sul state.
StoneX also revised down its estimates for Brazil’s 2024/25 corn production.
The first corn crop is now expected to be 25.90 million tonnes, down from a previous 26.53 million tonnes, while the second crop is now forecast at 101.62 million tonnes, down from a previous 102.13 million tonnes.
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