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Forecasts of an increase in soybean production in the USA and Brazil in the new season

Soybean
Brazil
United States
Published Mar 7, 2023

Original content

Analysts polled by the Reuters agency, on average, forecast the sown area of soybeans in the United States at the level of 88.6 million acres compared to 87.5 million acres in 2022, Agroperspectiva reports. The Ministry forecasts the total soybean production in the 2023/24 season. to 4.510 billion bushels (based on a yield of 52.0 bushels/acre compared to 49.5 bushels/acre a year earlier) compared to 4.276 billion bushels in the 2022/23 season. Transitional soybean stocks at the end of the 2023/24 season. estimated at 290 million bushels compared to 225 million bushels at the end of the 2022/23 season. The US Ministry of Agriculture predicts the average price of soybeans in the country in the 2023/24 season. at $12.90/bushel. The U.S. Food and Agriculture Organization predicts domestic soybean processing at 2.310 billion bushels. Soy ...
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