Brazil's 2024/25 agricultural season is expected to see record production of soybeans and corn, with favorable planting conditions and increased plantings across various commodities. Soybean production is projected to reach 166.2 million tonnes, up from 147.7 million tonnes in 2023/24, and corn production is predicted to yield 119.6 million tonnes, the second largest on record. The potential impact of the Trump 2.0 administration's trade agenda, including proposed tariffs on China, could further benefit Brazil by increasing the safrinha corn area in 2025 and providing a boost to farmer returns due to a weaker Brazilian real.