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Brazil Soybean Output Estimate Cut on Drought, AgRural Says

Soybean output in Brazil, the world’s second-largest producer after the U.S., will drop more than expected after a drought parched crops in the southern region, crop research firm AgRural Commodities Agricolas said.

Production will decline to 70.2 million metric tons from 75.3 million tons last year, AgRural said today in an e-mailed statement. That compares with 73.1 million tons initially expected, it said.

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