In Brazil, the area under soybeans will grow in 2024/25 MR, - the forecast
Soybean
Brazil
Market & Price Trends
Published Mar 28, 2024
Tridge summary
The Foreign Agricultural Service of the US Department of Agriculture forecasts a slight increase in Brazil's soybean sown area for the 2024/25 season, from 45.2 million hectares to 45.6 million hectares, marking less than a 1% growth due to high cultivation costs and low sale prices. Despite this modest expansion, the soybean harvest is expected to rise to 157.5 million tons, up from 155 million tons in the 2023/24 season but still below the 162 million tons recorded in 2022/23. The anticipated yield is set at 3.45 tons per hectare, showing an improvement over the previous season's yield of 3.376 tons per hectare, yet not reaching the 3.632 tons per hectare achieved in 2022/23.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
The sown area under soybeans in Brazil in the 2024/25 season may increase by less than 1% to the level of 2023/24 MR - from 45.2 million hectares to 45.6 million hectares. Such a forecast was made public by specialists of the Foreign Agricultural Service of the US Department of Agriculture (FAS USDA). They note that the weak growth from year to year will be associated with high costs for growing oilseeds and low prices for its sale. According to experts, farmers "will have little incentive or available capital to support acreage expansion at the same pace as in previous seasons." At the same time, FAS USDA predicts a higher soybean harvest in Brazil in 2024/25 compared to the current season - 157.5 million tons versus 155 million tons, respectively. However, the ...
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