Brazil 2024/25 wheat crop seen growing 14% yoy – StoneX

Brazil’s 2024/25 wheat crop is seen at 9.2 million tons, a 14% increase from the 8.1 million tons estimated for the previous year, consultancy firm StoneX said on Wednesday.

It was the first estimate StoneX released for Brazil’s next wheat crop, which has yet been planted in the South American country’s main regions.

StoneX attributed the expected growth on a higher yield despite a smaller planting area. Planting area is seen falling 11%, StoneX said, highlighting an expected drop in the southern region where most of the nation’s wheat production is concentrated.

It said farmers’ decision to reduce planted area is based on factors such as lower yields in the previous crop, a seed shortage, domestic prices rising less than expected and some competition with the second corn crop.

The consultancy firm expects the wheat crop yield in Brazil to grow 3.02 tons per hectare in the 2024/2025 crop, from 2.34 tons per hectare in the previous year, which was impacted by adverse climate conditions.

Tags: Brazil, estimate, wheat, crop, yield, planted area, StoneX