AgRural cuts Brazil soybean production forecast by 5.7 million tons

Foreign media, March 7 news: AgRural, a consultancy, released a report on Monday, lowering its forecast for Brazil’s soybean production in 2021/22 by 5.7 million tons, from an earlier forecast of 128.5 million tons to 122.8 million tons.

The reason for the reduction in soybean production this time is that adverse weather conditions have resulted in damage to soybean yields.

The latest production forecast is nearly 23 million tonnes lower than the company’s forecast earlier in the year, as soybean crops in southern Brazil and Mato Grosso do Sul are affected by drought.

In addition, soybean production in Mato Grosso and Minas Goias is also lowered slightly due to excessive rains in February.

The company expects soybean yields in 2021/22 to average 50.4 bags per hectare (60kg per bag), the lowest since 2015/16 and below the 52.9 bags per hectare last forecast.