Private analysts raised forecasts for Brazil’s soybean crop as harvesting gained momentum and weather conditions remained largely favorable across major producing regions. Brazil is already the world’s largest soybean exporter. Reuters reported that consultancy StoneX increased its production estimate, citing strong yields in central and northern growing areas. Celeres also raised its outlook, pointing to improved field results despite isolated weather issues. According to Agriculture.com, the larger crop is expected to pressure global soybean prices and intensify competition with U.S. exports later this year. Traders say Brazil’s expanding supply could reshape trade flows, particularly to China, the world’s top soybean buyer.

Bloomberg's Hallie Gu reported that "China, the world's largest soybean importer, has ramped up orders for Brazilian cargoes of the oilseed after meeting an initial shipment volume from the US as part of a trade truce with Washington."

An ag transportation specialist says low water conditions continue to impact the lower Mississippi River.

Ag Marketing IQ: Dry weather in Brazil threatens soybean yields and promotes U.S. export potential. If South American production falls, and China buys, the bulls will run the futures market—potentially to $17.