News

Brazil's soybean harvest is nearing completion

Soybean
Brazil
Market & Price Trends
Published Apr 17, 2024

Tridge summary

As of April 11, Brazilian soybean farmers have harvested 84% of their planned area, a progress that is slightly behind last year's pace by 2%, according to OleoScope and AgRural data. The harvest is most active in Bahia, Piaui, and Rio Grande do Sul, the latter of which is hurrying due to impending heavy rains. Despite the current progress, experts, including those from the USDA, argue that the harvest estimates might be too low, forecasting a total harvest of 155 million tons for the current agricultural year. This forecast is seven million tons less than the previous year's harvest of 2022-23.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Brazilian farmers, as of April 11 (later data not provided), harvested soybeans on an area of 84 percent of the total planned. OleoScope reports this with reference to data from the consulting company AgRural. This is six percent more than last week. However, compared to the same date last year, the pace of field work is two percent behind. There are no prerequisites that the pace of cleaning will become equal in the coming days. The collection of culture is most actively promoted in the states of Bahia and Piaui in the northeast of the country, as well as in the southernmost and one of the largest regions of the country, Rio Grande do Sul. There, local farmers accelerated the harvest, fearing heavy rains expected this week. Experts' estimates of the oilseed harvest are underestimated. For example, according to the US Department of Agriculture (USDA, ...
Source: Rosng
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