Brazil’s key grains producing state of Parana is expected to produce less soy than previously forecast for the 2018/19 season, state statistics agency Deral said on Wednesday, a sign that drought could be damaging the crop.
Parana is expected to produce 19.1 million tonnes of soy this year, Deral said, compared to its previous forecast of 19.6 million tonnes. The reduced forecast follows on analysts on Tuesday flagging potential cuts to current forecasts for Brazil’s 2018/19 soy output due to drought in the states of Parana and Mato Grosso do Sul.
