LatinNews Daily - 21 February 2023

In brief: Brazil’s soy harvest forecast lowered

* Brazilian agribusiness consultancy AgRural has updated its prediction for this season’s soybean harvest, forecasting 150.9m tonnes (t), down from last month’s forecast of 152.9m t. The consultancy pointed to the severe drought in the southern state of Rio Grande do Sul as a factor, as the harvest calculated on 16 February was 16.1m t, which marks a 4.3m drop from the output in January. The local news agency Agência Estado Broadcast reported on 17 February that 307 municipalities in Rio Grande do Sul were in an emergency situation due to the drought. Meanwhile constant rains in other southern states such as Parana and Mato Grosso do Sul have reportedly impacted on harvesting. AgRural notes however that the overall harvest figures were “partially compensated” by high expected productivity in central states such as Mato Grosso and Goiás.   

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