Datagro reduces projection for 2022/23 soybeans in South America after La Niña effects

Published 2023년 3월 22일

Tridge summary

Datagro Grains has lowered its estimate for the total soy harvest in South American producing countries to 193.52 million tons for the 2022/23 harvest, down from the November projection of 218.16 million, due to drought caused by the third year of La Niña. Despite the reduction, the harvest volume will still be 5% higher than the previous one. Brazil is expected to have the best performance with a recorded harvest of 150.81 million tons. However, Argentina's production potential has been significantly reduced to 27 million tons, down 37% compared to the previous harvest, due to severe losses and irregular weather.

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Original content

SAO PAULO (Reuters) - The soy harvest in South American producing countries should total 193.52 million tons in the 2022/23 harvest, Datagro Grains estimated on Wednesday, with a cut in relation to the 218.16 million projected in November, after a drought that impacted several regions. “We are revising the estimate strongly downwards due to the irregularity in the climate, impacted by the third year of La Niña”, said in a note the economist and research leader at Datagro Grains, Flávio Roberto de França Junior. Despite the adjustment, the volume produced by Brazil, Argentina, Paraguay, Bolivia and Uruguay, if confirmed, will still be 5% greater than that of the previous harvest, according to the consultancy. Planted area stood at 64.33 million hectares for the mainland, slightly below the 64.50 million seen in the 2021/22 season. Brazil, the largest global producer and exporter of the oilseed, has the most promising performance in South America this season. Datagro estimated a ...

Source: Mixvale