StoneX: Brazil soybean production could hit record high in 2022/23

Foreign media, October 12 news: Consulting firm StoneX said Brazil’s soybean production in 2022/23 will reach a record 153.8 million tons, up 200,000 tons from an earlier estimate.

StoneX said soybean production in the state of Goiás was raised, raising its forecast for plantings to 4.5 million hectares due to favorable weather. Although recent rains are favorable for soybean planting, the weather situation is still closely watched. If there is no severe weather in southern Brazil, soybean production forecasts are likely to be raised further. The soybean crop in the southern region was badly affected by severe weather last year.