Soybeans Decline as Brazilian Harvest Estimate Raised on Yields
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Soybeans fell for the first time in four sessions on speculation that Brazil, poised to become the world’s biggest exporter this year, may harvest a larger crop than forecast earlier.
INTL FCStone Inc. yesterday raised its projection for output in Brazil to 83.05 million metric tons from an estimate of 80.01 million tons in December, citing higher yield potential. The average of 23 analyst estimates in a Bloomberg News survey forecasted the country’s harvest to reach a record