Drought reducing soybean output in Uruguay

Due to the recent devastating drought, soybean production in Uruguay is forecast to drop to 1.7 million tonnes in 2017-18. This is a drop of 43% compared to the USDA’s original estimate of 3 million tonnes. Soybean crush for 2017-18 is revised down to 60,000 tonnes — a 20% decline from the previous crop year due to lower soybean supplies. The USDA forecasts a recovery for both soybean production and crush in 2018-19. It predicts output of 3 million tonnes and crush at 80,000 tonnes, which is a return to pre-drought historical levels.