Brazilian soybean production is expected to reach 114 million tonnes in the 2017/18 crop cycle, virtually matching last year’s record harvest, consultancy AgRural said on Thursday.

In December, AgRural had forecast production would reach 112.9 million tonnes. It said it revised its forecast after estimating that the planted area would rise 2.5 percent to 34.8 million hectares (85.9 million acres) this season.

In 2017, Brazil produced a record high 114.1 million tonnes of soybeans, according to government data.

The country’s summer corn output in the Center-South region is estimated at 19.9 million tonnes, a 20.5 percent plunge from last year as farmers planted soy instead of corn in the summer due to the latter’s lower prices.

Including farms located in the North and Northeast, AgRural said summer corn production will total an estimated 25.1 million tonnes this year, down from 30.5 million tonnes in the previous season.Com informações da Reuters

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