South American Soybean Production – 11/10/2020

USDA cut the Argentine soybean production estimate this month as planted area appears likely to fall short of earlier expectations. Weather to date has been average to above average and easily supports a trend yield forecast.

USDA left the Brazilian soybean production estimate at the level maintained the past few months. It is still early in the 2020/021 Southern Hemisphere production cycle meaning substantial risk to the crop if weather turns unfavorable.