Foreign media news on March 8: Consulting agency DATAGRO released a report predicting that South American soybean production in 2021/22 will be 181.84 million tons, which is lower than the earlier forecast of 209.15 million tons and will also be higher than the record 198.35 million tons in 2020/21. 8% reduction.
DATAGRO expects South American soybean plantings to reach a record 62.71 million hectares in 2021/22, slightly higher than the 62.66 million hectares forecast in November and 2% higher than the adjusted 2020/21 plantings of 61.43 million hectares.
The latest production forecasts already take into account the loss of rains from November to January in parts, including south-central Brazil, Paraguay and parts of Argentina and Uruguay.
Brazil’s soybean production forecast was revised down to 130.26 million tons, well below the original forecast of 144.07 million tons. If the forecast materializes, it would be 5% lower than the previous year’s record 137.82 million tonnes. Soybean plantings in Brazil stood at 40.87 million hectares, the 15th consecutive year of growth, up from 39.18 million hectares in 2020/21.
Argentina’s soybean production forecast was revised down from 48 million to 41 million, a 10 percent decrease from 2020/21, due to lack of rain. Argentine soybean plantings are estimated at 16.5 million hectares, down from an initial forecast of 17.1 million hectares. The forecast for soybean harvested area was revised down from 16.5 million hectares to 16.1 million hectares.
Soybean plantings in Paraguay are 3.6 million hectares, up from 3.35 million hectares in 2020/21. Soybean production is likely to be only 4.68 million tonnes due to erratic weather, down from 9.7 million tonnes in 2020/21.
Bolivia’s soybean plantings will reach a record 1.45 million hectares, up from an earlier forecast of 1.43 million hectares; soybean production will reach 3.4 million tonnes, up from an initial forecast of 3.19 million hectares.
Uruguay’s soybean harvested area was 1.08 million hectares, down from an initial forecast of 1.23 million hectares. Soybean production is likely to be 2.5 million tonnes, 12% below the initial forecast of 2.83 million tonnes, but up 23% from the previous year.