Brazil expects to harvest a record 143,75 million tons of soybeans in 2021/22

With different climate prospects, clearly more positive than last season, Brazil expects to harvest in 2021/22 a new record of some 143,75 million tons of soybeans, according to a survey with information from the main sowing states.

Favorable rains helped to expand planted areas and if estimates are confirmed Brazil will collect 5,5% more oilseeds than in 2020/21 (135,9 million tons) pointed out Conab the National Supplies Company.

Brazil the world’s largest producer and exporter of soy could also reach a record in overseas sales, 40,3 million tons, up 4,62% over the last season.

Market analyst Enilson Nogueira also anticipates a boom for the soy sector, given the profitable prices, which has reflected in a greater area planted.

“In the last two years soy farmers have enjoyed growing domestic and overseas demand, as prices in dollars increase plus a favorable exchange rate, even for trade operations with oilseed from the last season”, added Nogueira.

Likewise, demand for seeds and fertilizers shows the strong interest from farmers, who besides wanting to expand and grow, have also invested heavily in agriculture technology for this cycle.

However, an alert light in the favorable scenario is that potassium deliveries are delayed despite the strong demand for fertilizers, and could put at risk production and yield estimates.

The greatest boost in planting is in the area defined a Matophia, which includes Maranhao, Tocantis, Piaui and Bahía, although more traditional states are also experiencing the improved scenario, Matto Grosso and the Rio Grande do Sul.

Merco Press

Tags: forecast, Brazil, soybean