Brazil: Oilseeds and Products Update
Post forecasts 2017/18 production at 107 million metric tons (mmt), a 6.1 percent reduction compared to the previous season. The drop in the production outlook is due to a return to average yields, after an almost perfect season in 2016/17. Soybean exports for Marketing Year (MY) 2017/18 are forecast at 64 mmt as a result of strong demand by China. For the current MY 2016/17, Brazil exported 56 mmt in the first 7 months of the MY, about 19 percent higher compared to the previous season. Post forecasts exports to reach 65 mmt; a record.
