On February 12th, the US Department of Agriculture lowered its soybean production forecast for Argentina in 2024/2025 from 52 million tons to 49 million tons, with a market expectation of 50.49 million tons; Maintain Brazil’s soybean production forecast for 2024/2025 at 169 million tons, with a market expectation of 169.64 million tons. Reduce Argentina’s 2024/2025 corn production forecast from 51 million tons to 50 million tons, with a market expectation of 49.5 million tons; The expected corn production for Brazil in 2024/2025 has been lowered from the previous 127 million tons to 126 million tons, with a market expectation of 126.74 million tons.
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