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Brazil Soy Forecast Cut to 68 Million Tons, AgRural Says

Soybean output in Brazil, the world’s second-largest producer after the U.S., will drop more than expected after a drought reduced yields in the country’s south, crop research firm AgRural Commodities Agricolas said.

Production will decline to 68 million metric tons in the crop year that started Sept. 1, less than the 70.2 million tons estimated on Jan. 23. That compares with a record 75.3 million tons in the previous crop year, AgRural said today in an e-mailed statement.

Growers have harvested 28 percent of the current crop as of Feb. 24, up from 15 percent a year earlier.

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