Nov. 9 (Bloomberg) -- Soybean output in Brazil, the world’s second-largest grower after the U.S., may drop next year more than previously expected, the country’s Agriculture Ministry said.
Brazil will harvest between 71.5 million and 73 million metric tons, down from an Oct. 6 forecast of between 72.2 million and 73.3 million metric tons, the ministry’s Conab forecasting agency said today in an e-mailed report. Output will drop for the first time in three years, from 75.3 million tons harvested this year.
Corn output is forecast to rise to between 58.4 million and 59.5 million tons, from 57.5 million tons this year, Conab said. The forecast was raised from between 57.3 million and 59 million tons estimated in October.
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