The only change to South American production was a 1.5 mmt cut to #Argentina's #soybeans. That was on reduced area.
Where would the world be if Brazil wasn’t increasing the bean output a couple percent every year? It wasn’t that long ago they breached 100 billion bushes.
This was bearish for CT as average guesses were for a few hundred thousand bale drop due to lots of adverse wx in N TX and the SE/Delta and yet there was a very small increase! But AL did drop as expected.