As Brazilian farmers prepare for their 2013/14 planting season, they have been receiving some good news from both the commodity markets and the currency markets. Soybean prices are rising and the Brazilian currency is weakening, which are both good news for Brazilian soybean farmers. I think this will encourage an even greater expansion of the soybean acreage in Brazil in 2013/14. Therefore, instead of the 3-5% expansion in soybean acreage which had been expected, I am going to increase that to a 4-6% expansion and it could go higher. As a result, the total 2013/14 Brazilian soybean crop is now estimated at 85 to 87 million tons.
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