February consolidates losses in soybean production in Argentina and Rio Grande do Sul, but Brazil reaps a record harvest

Losses in production in Argentina and Rio Grande do Sul, due to the lack of rain, materialized. But the harvest in the other states of Brazil has gained pace and the results are positive, indicating a record offer by the main world producer of the oilseed. Brazilian soybean production in 2022/23 should total 152.43 million tons, an increase of 18.6% over the previous season's crop, which was 128.5 million tons. The estimate was disclosed by SAFRAS & Mercado. If confirmed, it will be the biggest harvest in history. In January, when the previous report was released, the projection was 153.37 million tons. The retraction over the previous estimate is 0.61%. SAFRAS indicates an increase of 3.6% in the area, estimated at 43.86 million hectares. In 2021/22, planting occupied 42.34 million hectares. The survey points out that average productivity should increase from 3,050 kilos per hectare to 3,493 kilos. An important negative adjustment was made in the expected average productivity for ...