Upward Revision of Brazilian Soybean Production 2023, Boosts Beginning Stocks Estimate


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New data from the oilseeds lobby Abiove released on Tuesday indicates an upward revision of Brazilian soybean production in 2023 which has impacted the projections for the country's beginning stocks this year. Following the upward revision, which sets Brazil's 2023 soy output at a record 160.3 million metric tons, beginning stocks are now estimated at 5.9 million tons. This figure represents an increase of 1.2 million metric tons compared to previous calculations.