U.S. Counselor expects Brazil soybean production to reach 139 million tons in 2022/23

WASHINGTON, April 14: Brazil’s soybean production will reach 139 million tons in 2022/23, up from 124.8 million tons in the current year, according to a report released by the U.S. Agriculture Counselor. This forecast is based on normal weather conditions in Brazil.

Brazil’s soybean acreage expansion will slow in 2022/23, with 42.5 million hectares forecast, up from 40.7 million hectares in 2021/22. Soybean prices and the real exchange rate remain favorable for soybean planting in 2022/23, but limited supply of fertilizers may limit the expansion of plantings.