Brazil’s soybean crop forecast again exceeds expectations

Soybean acreage is expected to increase by about 1 million hectares (2.47 million acres) compared to the previous season, even as growers face tighter profit margins, Queiroz noted. The peak of the La Niña weather pattern between November and December created uneven conditions, which posed challenges for timely planting in some regions. However, Queiroz highlighted favorable weather forecasts for the coming weeks in Brazil’s central production areas. These conditions are expected to support strong yields and ensure record-breaking output for the season. Late soybean planting could negatively affect the country’s second corn crop in key central-western states, he added. Nevertheless, Itau BBA’s Agro Consulting team expects total corn production in Brazil to reach around 138–139 million tons, exceeding the USDA’s estimate of 131 million ...