Safras lowers Brazil's 2022/23 soybean harvest forecast to 152.43 million tons

Published Mar 3, 2023

Tridge summary

Consultancy Safras & Mercado has lowered its forecast for Brazil's soybean production in the 2022/23 season to 152.43 million tons, a 0.6% decrease from the January forecast. Despite this, the production is expected to increase by 18.6% from the previous season, marking the largest harvest on record. The forecast faces adjustments due to drought in Rio Grande do Sul, which has affected average productivity. However, the impact is offset by regions with crops that are developing well.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

SAO PAULO (Reuters) - Soybean production in Brazil in 2022/23 should total 152.43 million tons, estimated this Friday by consultancy Safras & Mercado, which reduced its forecast by 0.6% compared to the previous year. of January. With the slight reduction, the consultancy estimates an increase of 18.6% over the previous season's crop. If confirmed, it will be the biggest harvest in history. An important negative adjustment was made in the expected average productivity for Rio Grande do Sul, where the drought hit the crops. “The low humidity and high temperatures that hit part of the State's crops in February continued to cause problems for the development of plants in some regions, which removed the ...

Source: Mixvale