USDA Drop Argentine Soybean Estimate 4MMT

The USDA today dropped its estimate for Argentine soybean production for the 2008/09 crop by 4 MMT to 39 MMT.

This revised estimate now pulls the USDA into line with other private and official figures of around 39-40 MMT.

There were no other significant changes to any of the other world crop production numbers, with Brazilian soybean output left unchanged at 57 MMT.