The revised production prospects for Argentine soybeans were down significantly from previous projections. The USDA forecast 2017-18 production at 47 million tonnes, down 7 million tonnes, or 13%, from the previous month’s projection and off significantly from the previous two years: 19% lower than the 2016-17 outturn of 57.8 million tonnes and 17% lower than the 2015-16 outturn of 56.8 million tonnes.