Record grain and soybean yields in Brazil for second consecutive season

agricultural producer. The growth is driven by a 3.3% expansion of sown areas to 84.4 million hectares. Soybeans (177.6 million tons) and corn (138.8 million tons) remain the core of Brazil’s crop structure, while substantial volumes are also expected for rice (11.3 million tons) and pulses (3.1 million tons). Analysts at Itaú BBA note that the main driver of further expansion is the conversion of degraded pastures into cropland. Soybean acreage in Brazil has been rising for 18 consecutive years, and the potential for further growth remains significant. According to Soybean and Corn Advisor, up to 28 million hectares of pastureland are suitable for conversion, which could expand soybean area by an additional 59%. The soybean production outlook remains at 177 million tons compared with 170 million tons last season, although planting progress is slightly slower: as of November 9, 47% of the planned area had been sown, 7% below last year’s pace. Export activity is also strengthening. ...