USDA estimates 2017-18 Brazil soybean output at 105 million tonne, down 8%.

The US Department of Agriculture Brasilia post has estimated Brazil soybean output at 105 million tonne in 2017-18 (Mar-Feb), down around 8% from 114 million tonne last year. The fall in the soybean production despite record area under the crop is primarily due to poor yields in 2017-18. Sowing of soybean in 2017-18 is seen at a record 34.4 million ha and it is over 1% higher than last year level in the country. The post forecasts soybean exports for 2017-18 at 62 million tonne, down about 3% compared to the previous year due to lower exportable supplies of the oilseed because of weak output and higher domestic consumption.