StoneX raises Brazil’s 2021/22 soybean output to 127 million tons

Foreign media July 4 news: The July report released by consulting firm StoneX showed that Brazil’s soybean production in 2021/22 is expected to be 126.96 million tons, up 2.6 million tons from the previous month’s forecast of 124.4 million tons, as Matogros Plantings are raised for Saskatchewan and higher yields for Rio Grande do Sul.

However, the revised output is still lower than the previous year’s record high of 135.84 million tons.

StoneX said the increase in output was mainly due to the conversion of pastures to farmland in the north and northwest of Mato Grosso, and soybean production in the state was raised to 40.5 million tons. In Rio Grande do Sul, higher yields bring the state’s soybean production to 11.1 million tons, but it is still 50 percent lower than the previous year. Production is also raised for Maranhão and Pará. StoneX said this year’s production could have exceeded 140 million tonnes had it not been for the drought.