The Brazilian agricultural statistics agency, Conab, forecasts that the grain crop in Brazil will grow to 234.1 million tonnes this season, 2.8 percent more than last season, Agência Brasil reports.
The state’run news agency quotes Conab as forecasting that the most significant contribution to the hike will the cotton crop, which will be 27.9 percent greater.
Conab forecasts that the two harvests of maize will be 91.7 million tonnes this season, 13.6 more than the harvests last season.
In contrast, the soybean crop is forecast to shrink by 3.3 percent to 115.3 million tonnes, Agência Brasil says.
Brazil is the biggest exporter of soybean in the world, and China buys most of its soybean exports, according to Reuters news agency.