Brazil must produce, process and export more soy in the 21/22 harvest

Published 2021년 11월 11일

Tridge summary

Rabobank predicts that the 2021/2022 harvest in Brazil is likely to set a new record for soybean production, with an estimated 142 million tons. This is due to an increase in planted area, processing, and exports. However, the projected rise in soybean supply, both in Brazil and the United States, may not be balanced by demand, leading to stable prices. The weather, particularly La Nina, could impact the productivity of soybeans and other crops like corn and cotton. Brazil expects to plant more area for corn, increasing production to 116 million tons. Cotton's planted area is expected to rise by 12.1%, and global consumption is projected to grow by 3%. However, the price of inputs is increasing due to various factors including energy crisis in China, Russian export quota, and sanctions on Belarus, leading to a significant increase in the cost of nitrogen fertilizers, phosphorus, and potassium in Brazil.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The 2021/2022 harvest should be another record for Brazilian soybeans, according to Rabobank projections, which expects more planted area, more production, more crushing and more exports. The bank's estimate is 40 million planted hectares (up 3.3%), production of 142 million tons, processing of 47.5 million and exports of 88 million tons. According to analyst Marcela Marini, a grain specialist at the Dutch bank, the significant increase in the supply of soybeans from Brazil and the United States, which should reap the second best crop in history, should not be accompanied by demand. Prices, which reached $16 a bushel this year, are expected to remain, on average, between $12.55 and $12.70/bushel throughout 2022. Brazil should harvest 142 million tons of soy in the 2021/2022 harvest (Photo: REUTERS/Agustin Marcarian) The projection of imports by China, the biggest buyer of Brazilian soybeans, is 101 million tons, 3 million more than the 2020/2021 harvest, driven by the need for ...

Source: Agroinforme