Brazil revises soybean harvest estimate downward due to irregular weather conditions

Brazilian soybean production in the 2023/24 season is projected at 161.377 million tons, indicating an increase of 2.2% compared to the previous harvest of 157.83 million tons, as released by SAFRAS & Mercado. Despite the expectation of being the largest harvest in history, the estimate was adjusted downwards in relation to the initial projection for July, which was 163.25 million tons, representing a reduction of 1.15%. SAFRAS points to an increase of 2.1% in the planted area, estimated at 45.62 million hectares, compared to 44.68 million hectares in the previous season. Average productivity is projected to increase from 3,550 kilograms per hectare to 3,555 kilograms. Due to irregular weather conditions, with low humidity and high temperatures since October, fine adjustments were made to the average productivity potentials in some states in the Center-West, North and Northeast regions, especially in Mato Grosso and Goiás. The SAFRAS & Mercado analyst , Luiz Fernando Gutierrez ...