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.
Further development of the grain sector in the Black Sea and Danube region will be discussed at the 23 International Conference BLACK SEA GRAIN.KYIV on April 24 in Kyiv.
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