Brazil's Agriculture Ministry Tuesday predicted the 2013-14 soybean crop would reach a record 90.0 million metric tons.
It raised its forecast from a range of 87.9 mmt to 90.2 mmt last month as the crop continues to develop well across Brazil's grain belt.
There appears to be a growing consensus that the crop will be around 90 mmt. Last week, Agroconsult, a Brazil-based analytics firm, raised its number to 90.1 mmt, while a week before AgRural, a local consultancy, upped its number to 89.4 mmt.
If the government figure is confirmed, production will be 8.5 mmt higher than the 81.5 ...