WASHINGTON — In its March 9 World Agricultural Supply and Demand Estimates report, the U.S. Department of Agriculture forecast Brazil’s soybean crop in the current year at a record 108 million tonnes, up 4% from its prior forecast and above the latest official forecast from Brazil of 107.6 million tonnes. The crop in Brazil is more than 50% harvested. At the same time, the U.S.D.A. raised its forecast of U.S. soybean carryover on Sept. 1, 2017, by 15 million bus from February to 435 million bus, based on an expected 10-million-bu increase in domestic crush, at 1,940 million bus, and a 25-million-bu decrease in exports, at 2,025 million bus. Crush was raised based on increased soybean meal disappearance while exports were lowered on increased production and exports for Brazil, the U.S.D.A. said.
