USDA raises forecast of soybean production, exports and processing in Brazil in MY 2024/25

USDA Foreign Agricultural Service (FAS USDA) has raised its forecast of soybean production in Brazil in MY 2024/25 to 161 mln tonnes. The previous estimate was 160 mln tonnes, according to the report of the Brazilian division of the service.

At the same time, in MY 2024/25, another record of soybean exports is expected – 102 mln tonnes, while the previous season’s figure is estimated at 99 mln tonnes.

Also, the service increased the forecast of soybean processing in Brazil this year by 2.5% compared to the season 2023-2024 – up to 55.5 mln tonnes.

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Tags: soybean, crop forecast, Brazil