Brazil's soybean harvest forecast to reach 71.8 million tonnes in 2012, down from 75.3 million tonnes last year, agriculture ministry says

LOS ANGELES , January 10, 2012 () – The Agriculture Ministry of Brazil has raised its forecast for the 2012 Brazilian soybean harvest to 71.8 million tonnes, up from an earlier estimate of 71.3 million tonnes made on Dec. 8, Bloomberg reported Jan. 10.

Even with the revised estimate, the 2012 soybean harvest is still projected to be less than last year’s harvest of 75.3 million tonnes.

Conab, the crop forecasting agency of the Brazilian Agriculture Ministry, forecast that the 2012 Brazilian corn harvest would rise to 59.2 million tonnes, up from an earlier estimate of 57.5 million tonnes. Even with the revised estimate, the 2012 corn harvest is still projected to be less than the 60.3 million tonnes of corn that were harvested last year.

Brazil is the second-largest producer of soybeans in the world behind the United States.

The primary source of this article is Bloomberg, New York, New York, on Jan. 10, 2011.

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