DATAGRO lowers Brazil soybean production forecast to 152.23 million tons

Foreign media news on December 21: Consulting agency DATAGRO released a report on Wednesday, cutting Brazil’s soybean production forecast for 2022/23 by 1.1 million tons.

Flavio Roberto Franca Jr., an economist and head of the research team at DATAGRO, said Brazil’s soybean production was revised to 152.23 million tons this month, down from an estimate of 153.32 million tons last month. The downward revision is due to irregular weather in November and December in Rio Grande do Sul, as well as weather forecasts for parts of Goiás, Minas Gerais, Mato Grosso do Sul and São Paulo in January The situation is complicated. Despite the downward revision to production, it is still 18.0% higher than the 129 million tons produced in 2022.

Soybean planting in Brazil is basically over. DATAGRO’s new survey of Brazil’s soybean crop for 2022/23 confirms the acreage forecast issued in July, with soybean area estimated at 43.93 million hectares, just 903,000 hectares higher than forecast five months earlier and on par with 2021/22 This is also the 16th consecutive year that Brazil’s soybean acreage has grown. Soybean area increased across Brazil, but the increases were more pronounced in the northern, northeastern, and midwestern states.