Brazilian soybeans to offset Argentina’s frazzled crop

Published Feb 27, 2023

Tridge summary

Brazil's and Argentina's soybean crops are expected to offset each other, with Brazil's crop compensating for Argentina's expected decline, maintaining overall production around last year's level. Despite facing dry conditions and cool temperatures, Argentina's largest producer of soybean meal and oil is predicted to have its lowest production in the past 14 years, potentially leading to reduced exports in favor of prioritizing meal and oil production. In contrast, Brazil's crop is projected to perform well due to favorable growing conditions, with over 20% of its season's crop already harvested.

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

Original content

Brazil’s bumper soybean crop will offset sharp soybean crop declines in Argentina, lifting the countries’ combined production just above last year’s level, according to Gro’s in-season soybean yield forecast models for both countries. This suggests that South America’s biggest soybean crops will have a negligible impact on the global soybean stocks-to-use ratio, a measure of available supply. In 2022, Gro’s Brazil Soybean Yield Forecast Model’s production estimate was 98% accurate six months before Brazil’s government released its final figure, and our Argentina soybean model’s forecast was within 97% of Argentina’s Ministry of Agriculture’s final number more than five months before publication. This year soybean crops in Brazil and Argentina face diverging prospects. While Brazil’s adequate moisture and improved growing conditions as the season progressed have its soybean production tracking record yields for 2022/23, which refers to the local 2023/24 marketing year, Argentina’s ...

Source: Gro-intelligence