Agroconsult raises soybean crop estimate in Brazil
Soybean
Oil & Fats
Brazil
Market & Price Trends
Published Mar 29, 2024
Tridge summary
The soybean harvest in Brazil is projected to hit a record 156.5 million tons this season, according to Agroconsult, up from an earlier estimate of 152.2 million tons. This increase is largely due to the expansion of cultivated areas to 46.4 million hectares. Despite this growth, the harvest has faced significant challenges, including erratic weather conditions with heavy rains in the south and severe drought in the central regions. As of March 21, the harvest is 69% complete, lagging slightly behind the progress made by this time last year.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
The soybean harvest in Brazil this season may amount to about 156.5 million tons, Agroconsult forecasts. In January, the consulting company’s estimate of gross oilseed harvest was lower – at the level of 152.2 million tons. Experts note that the production of beans will grow on the background of expansion of sown areas under the crop – up to 46.4 million hectares (+1.2 million hectares for the year). At the same time, according to Agroconsult President Andre Pesoa, unstable climatic conditions at the beginning of the season, with heavy rains in the south and extreme drought in the central part of the country, led to the fact that the current harvest “has become one of the most difficult from a technical point of view”. Recall that by March 21, the soybean harvest had been carried out on an ...
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