Agricultural Resources cuts Brazil and Argentina soybean output by 8.85 million tons
Foreign media March 2 news: AgResource Brasil (AgResource Brasil) based on recent inspections of soybean farmland, Brazil’s soybean production in 2021/22 is lowered to 119.45 million tons, 550% lower than the forecast value a month ago. 10,000 tons or 4.4%. Argentina soybean production is also lowered 3.35 million tons. The company conducted fieldwork in Mato Grosso, the No. 1 producing region. The state accounts for 53 percent of the nation’s soybean area.
Agricultural Resources forecast Mato Grosso soybean production this year at 37.768 million tonnes, down from an earlier forecast of 38.2 million tonnes. The company is still counting losses in the states of Rio Grande do Sul and Parana, which have initially estimated losses of nearly 5 million tonnes of soybeans since the last survey.
Argentina soybean production lowered to 37.65 million tons
Agricultural Resources Brazil also lowered Argentina’s soybean production to 37.65 million tons, down 3.35 million tons from an earlier forecast of 41 million tons. The lower soybean crop is due to below-average rainfall combined with record high temperatures.
For comparison, the Buenos Aires Grain Exchange forecast is 42 million tons and the Rosario Grain Exchange forecast is 40.5 million tons.