date:Jul 16, 2012
by 4.8%, to 83.01 million metric tons.
The drought has hit U.S. cornfields even harder, crushing hopes for a bumper crop and pushing corn prices up, as well.
All the world is now turning its eyes to see what South American producers are going to plant, said Aedson Pereira, a grains analyst at Informa Economics FNP in Sao Paulo.
The answer, at least for Brazil, appears to be soybeans.
An outstanding winter corn crop this year should fatten Brazil's stocks of the grain and embolden farmers to