the usda has adjusted its production outlook for brazilian soybeans lower although the cuts are less severe than the outlooks from private firms in reaction to adverse weather in growing regions in todays world supply and demand report the usda said that brazilian production of soybeans for the 202122 marketing year is expected to total 134 million metric tons this is down from 139 million tons forecast in january analysts surveyed by the wall street journal had projected the output of the worlds top soybean producer to fall to 133 million tons argentine soybean production is also forecast to decline with the usda pegging 202122 production at 45 million tons down from 465 million tons projected in january corn production in brazil was also marked lower while argentinas corn production outlook was left unchanged the usdas brazilian projections for soybeans are more conservative than estimates released by private firms ahead of the wasde stonex brazil pegged soybean production for 202122 to 1265 million tons down from 134 million tons in january and 145 million tons in december additionally agricultural consultancy datagro cut its forecast for brazilian soybean production this year to 130 million metric tons from its december forecast of 1421 million tons in reaction to todays report grain futures trading on the cbot quickly shed gains made earlier in the day before bouncing back to roughly where they were prereport corn is currently up 14 soybeans are up 1 and wheat is up 04