The Brazilian soybean harvest for the year has concluded, but we are still seeing crop estimate revisions. The latest came from the Brazilian soy crushing group ABIOVE, which is estimating Brazil’s soybean crop at 156 million metric tons this year and forecasting exports of 97 million metric tons. If correct, this export volume would be up 23.2% from last year’s 78.7 million metric tons. 

Brazil’s June exports are...