AgroConsult: Brazil’s soybean production will reach a record 144.3 million tons
Foreign media news on November 28: Consulting agency AgroConsult released a report, predicting that Brazil’s soybean production in 201/22 will reach a record 144.3 million tons due to good weather and increased planting area.
If the forecast becomes a reality, it will increase by 5.2% from the 137.1 million tons in the previous year.
Brazilian farmers planted 40.3 million hectares of soybeans this year, an increase of 4.2% year-on-year. The company’s analyst Andre Peso said that if the weather remains good, Brazil’s soybean production may exceed 145 million tons. In addition, due to early planting of soybeans, the pace of soybean harvest will accelerate, and the number of new beans on the market in Brazil may increase in January next year.
Peso expects the soybean harvest in the first half of January to be 6.5 million tons, which is close to the highest harvest of 8.2 million tons in the same period set in 2018/19.