Brazil Soy Forecast Cut to 69.8 Million Tons

(Corrects previous forecast in second paragraph.)

Soybean growers in Brazil, the largest producer after the U.S., will harvest less of the oilseed than previously expected after a drought damaged crops, forecaster Celeres said.

Output in the crop year that started Aug. 1 will drop 6.7 percent from a year earlier to 69.8 million metric tons, Celeres said in an e-mailed report. The estimate was cut from 72 million estimated on Feb. 6.

To contact the reporter on this story: Carlos Caminada in Sao Paulo at ccaminada1@bloomberg.net

To contact the editor responsible for this story: Carlos Caminada at ccaminada1@bloomberg.net

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