Brazilian analysis agency PAN expects Brazil’s soybean production to fall to 122 million tons

Foreign media, February 15 news: Brazil’s private analysis agency, Homeland Farmers (PAN), released a report this week, forecasting Brazil’s 2021/22 soybean production at 122 million tons, down from a forecast of 136.24 million tons in January. The lowered production is 10.8% lower than in 2020/21.

Matthew Pereira, director of the company, said that the drought affected southern Brazil and Argentina, resulting in damage to soybean production, which will also be the largest drop in absolute output in history.