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Brazil cuts wheat crop forecast, raises import estimate as El Niño hits quality

By Reuters News

SAO PAULO, Nov 13 (Reuters) - Brazil's national crop agency Conab cut its estimate for the 2026 wheat crop to 5.26 million metric tons on Friday, down from 5.73 million tons in October, as rains linked to the El Niño weather pattern hurt quality and lowered yields.

The agency also raised its wheat import forecast to 8.94 million tons, from 7.06 million previously, and now sees ending stocks at just 436,500 tons, compared with 1.06 million tons in October.

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