Brazilian Soybean volume decreases due to the weather situation

Brazil is the world’s largest producer and exporter of soybeans, but due to the problematic weather conditions regarding the La Niña phenomenon, producers lowered their soybean production for the 2021/22 season. It affected most of the major soybean-growing regions. If the weather conditions remain, it is possible that there could be more damage to crops, and soybean production could be lower than the current projection. Exports were not affected yet, as Brazil continues to ship last year’s crop, but this situation is expected to change by December 2022.