Brazil’s corn and wheat crops revised lower.
Due to adverse weather conditions related to El Niño, the Foreign Agricultural Service (FAS) of the US Department of Agriculture has lowered its forecast for corn and wheat production in Brazil in marketing year 2023-24. In its Global Agricultural Information Network report, released April 1, the FAS trimmed its corn harvest projection by 2 million tonnes from the previous forecast, to 122 million, down from 135.5 million in 2022-23. The agency also slashed its projection for Brazil corn exports by…