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Brazil gov't cuts soy estimate, raises corn view
June 5, 2012 / 12:16 PM / in 5 years

Brazil gov't cuts soy estimate, raises corn view

SAO PAULO, June 5 (Reuters) - The Brazilian government trimmed its 2011/12 soybean crop estimate on Tuesday after drought ravaged output in the world’s second biggest producer this season, but raised the country’s corn output well into record territory.

Soy production was forecast at 66.37 million tonnes for the crop that ended harvesting in May. That number was down slightly from last month’s estimate of 66.68 million tonnes.

Corn production jumped in the government’s latest forecast to 67.79 million tonnes from the 65.90 million projected a month ago. (Reporting by Reese Ewing and; Fabiola Gomes)

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