Safras: Brazil soybean planting 76.7% as of Nov. 18

Foreign media, November 22 news: Brazil’s 2023/23 soybean planted area reached 76.7% of the expected total area as of last Friday (18), up from 67.3% a week ago, according to a survey by Brazilian consultancy Safras & Mercado. %, down from 84.2% in the same period last year and in line with the average of the past five years (77%).

The company expects Brazil to produce 154.53 million tonnes of soybeans in 2022/23, up from a forecast of 151.5 million tonnes in July. If the forecast comes true, it would be a 21.3% increase from the previous year’s output of 127.44 million tonnes.

Safras said Brazil’s soybean area reached 43.74 million hectares this year, up 3.7 percent from 42.16 million hectares in 2021/22. Average yields will rise from 3,038 kg (50.6 bags) to 3,551 kg (59.1 bags) per hectare.