Brazil’s soybean harvest is estimated at 166 mln tons
The Brazilian National Agricultural Agency (CONAB) estimates the soybean harvest this season at 166.05 million tons, 12.7% more than in the previous season.
It is noted that producers allocated only 2.8% more arable land for beans than last year, the area under the crop increased to 47.33 million hectares, which is the lowest annual growth rate in six years due to the decline in world prices last season. Conab expects a further slowdown in the build-up of the planting season as well.
However, the agency forecast growth on the back of improved yields, even if lack of rainfall delays planting in key states.
Soybean exports in 2025 are forecast at 105.54 million tons.
End stocks are estimated at 4.16 million tons.
Total grain and oilseed production in 2024/25 should reach a record 322.47 million tons, up 8.3% from the previous season.
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