AgroConsult lowers Brazil’s 2021/2022 soybean production to 124.6 million tons

Foreign media March 17 news: Consulting firm AgroConsult released its production forecast report on Thursday after field visits, lowering its forecast for Brazil’s soybean production in 2021/2022 to 124.6 million tons, which is higher than the company’s forecast. The annual output of 139.4 million tons was 10.6 percentage points lower. The lower production is due to severe drought in southern Brazil, including the main producing states of Parana and Rio Grande do Sul, where average yields fell by 38.7% and 56.2%, respectively.

Production in regions such as Mato Grosso and Goias in the Midwest was higher than the previous year. The top producing state, Mato Grosso, averaged 60.7 bags per hectare (60kg per bag), an increase of nearly 5% year-on-year. This forecast takes into account the impact of rains in the state that disrupted harvesting.

The consultancy also estimated Brazil’s second-season corn production this year at 92.2 million tonnes. The company will conduct field visits to second-crop corn fields in the coming weeks. If the second crop corn production forecast is confirmed, it will increase by 52% from the previous year.