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South American crop size updates out soon

A global strategist for grain and oilseeds with Rabobank says he’s keeping a close watch on South America’s crop production as harvest advances.

Stephen Nicholson says Brazil’s first corn and soybean harvest are about halfway complete, but combines are moving fast.

“It’s not going to be a record, but it will be a big soybean crop. And Argentina, where they produced 25 million metric tons last year will produce at least double that here in 2024. Whatever loss Brazil has, Argentina will make up for it.”

Nicholson says Brazil can produce a crop that’s more competitively priced than the United States and that continues to attract global business.

He says updated corn and soybean production estimates are coming from USDA on Friday and CONAB, Brazil’s equivalent of USDA, next week.

Brownfield interviewed Nicholson at the Commodity Classic in Houston, Texas.

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