USDA arm sees Brazil 2018-19 soybean output tad down at 115 mln tn

Soybean output in Brazil is seen at 115 mln tn in 2018-19 (Feb-Jan), down 500,000 tn from a year ago. Brazil produced a record 115.5 mln tn of the oilseed in 2017-18. The department sees sowing area of the oilseed in Brazil at 35.8 mln ha in 2018-19, up from 35.0 mln ha in 2017-18. Despite the record sowing area, production may decline in 2018-19 due to lower yields. Brazil is likely to export 67 mln tn soybean in 2018-19 against a record 69 mln tn a year ago. Production of soyoil in Brazil is seen at a record 8.5 mln tn in 2018-19 because of rise in biodiesel blending and recovery in the domestic economy. Soyoil production was 8.4 mln tn in 2017-18.