Conab analysts have raised their estimates for both the soybean and corn harvest in Brazil for the 2024/25 MY. The forecast for soybean production has been increased by 1.8 million tons, to 171.4 million tons (+13.3% year-on-year), and for corn by 2.7 million tons, to 139.7 million tons (+20.9%).
In particular, the country has seen an expansion in the planted area for the 2024/25 soybean crop by 2.7% year-on-year, to 47.35 million hectares, and the yield has increased by 10.3% to 3.62 tons per hectare. The highest yield was recorded in the state of Goiás at 4.18 tons per hectare, and the lowest in Rio Grande do Sul at 2.34 tons per hectare.
As for corn, the first crop grain was harvested at 24.9 million tons (+8.6% year-on-year), the second crop at 112 million tons (+24.2%), and the third crop at 2.7 million tons.
Thus, the total grain production in Brazil for the 2024/25 MY set a new record at 350.2 million tons (+16.3% year-on-year).