While you were looking at USDA and Conab, AgRural had already forecasted a record soybean crop for Brazil
Brazil’s federal crop agency Conab released this week new numbers for the 2017/18 crop season. The soybean production is now seen at 118.9 million metric tons, up 838 metric thousand tons from June.
The new estimate is close to AgRural’s 119.2 million metric tons and confirms the trend signaled by AgRural since February: Brazil’s 2017/18 soybean production would be larger than expected by the government and would set a new record.
At that time, the difference between AgRural and Conab’s numbers was close to 5 million metric tons. Now, it is around 300 thousand metric tons. You don’t follow Conab, but follow the USDA? It doesn’t matter. The USDA’s soybean production estimates for Brazil are always very close to Conab’s numbers.
In July, Brazil’s old soybean crop doesn’t mean much to the market anymore. But in February it is all that matters. And, by then, AgRural’s clients already knew what Conab and the USDA took a long time to admit.
If you need to know what is going on with Brazil’s crops and markets, you need a source of information and analysis that anticipates trends.
That’s what AgRural does.
