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

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.

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