Brazil: Oilseeds and Products Update
Post increased its forecast for Brazil’s 2015/16 soybean production to a record 100 million metric tons (mmt). Favorable rains in January and February lessened the anxiety on potential yield impacts in the Center-West. Exports for the 2015/16 Marketing Year (MY) are forecast to reach 55.5 mmt due to strong demand in China and the weak Brazilian Real expected through 2016. Post increased its domestic crush forecast for 2015/16 MY to 40.5 mmt and its 2014/15 MY estimate to 40.2 mmt, as a result of higher domestic and export demand.
