Consulting Firms in Brazil Lower Soybean Estimate

After conducting crop tours through Brazil, several consulting firms reduced their estimate of the 2024/25 Brazilian soybean crop.

AgRural lowered their recent estimate of the 2024/25 Brazil soybean production 2.8 million tons to 168.2 million. Yields in Parana and Mato Grosso do Sul are variable and generally disappointing, but the biggest reason for the lowered estimate are significant problems for the soybeans in Rio Grande do Sul. Many analysts are expecting the yields in Rio Grande do Sul to be down 30-40% from initial expectations.

Agroconsult last week lowered their estimate of the 2024/25 Brazil soybean production by 1.1 million tons to 171.3 million. They indicated that the good yields in central and northern Brazil will not be enough to compensate for the reduced yields in southern Brazil. They estimated the soybean acreage at 47.6 million hectares (117.5 million acres), up 1.7% compared to last year with an average nationwide yield of 60 sacks per hectare (53.6 bu/ac).

Tags: soybeans, Production, crop, acreage, yelds, estimate, Brazil