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Brazil Soybean Harvest to Fall 7% to 70 Million Tons, USDA Says

Feb. 29 (Bloomberg) -- Brazil, the world’s biggest soybean grower after the U.S., will harvest 70 million metric tons of the oilseed this year, down 7 percent from 75.3 million a year earlier, according to a U.S. Department of Agriculture agency.

Soybean exports may fall to 33 million tons in the marketing year that began Feb. 1, down from 33.79 million a year earlier, the USDA’s Foreign Agricultural Service said in a report posted today on its website. Reserves before the 2013 harvest may fall to 576,000 tons from 2.85 million estimated this year, according to the report.

To contact the reporter on this story: Jeff Wilson in Chicago at jwilson29@bloomberg.net

To contact the editor responsible for this story: Steve Stroth at sstroth@bloomberg.net.

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