Brazil: Oilseeds and Products Update
Post kept its forecast for Brazil’s 2015/16 soybean production to a record 98 million metric tons (mmt). Despite concerns due to the hot and dry weather in November and December, favorable rains in January have lessened the anxiety on potential yield impacts in some regions. Exports for the 2015/16 Marketing Year (MY) are forecast to reach a record due to demand in China and the strong dollar expected through 2016. Post increased its domestic crush forecast for 2015/16 MY to 40.2 mmt and its 2014/15 MY estimate to 40 mmt, as a result of higher domestic and export demand.
