Soy dribbles dry and Brazilian production jumps to 154.2 million tons

In its February estimate, StoneX raised the expectation for Brazilian soybean production for 2022/23 to 154.2 million tons, against 153.79 million tons released in the previous report. “Despite concerns about the dry climate in southern Brazil, which led to yet another crop cut in Rio Grande do Sul, prospects for the rest of the country remain very positive”, assesses the group's Market Intelligence Specialist, Ana Luiza Lodi. While production in Rio Grande do Sul is now estimated at 19 million tons, more than 2 million less than what was announced at the beginning of January, other States show satisfactory results in the harvest. StoneX calculated an expected increase in productivity in the Southeast, Midwest, North and Northeast, offsetting the drop in the South, in addition to a review of the planted area in some states. supply and demand With the confirmation of a soybean harvest of over 150 million tons, the 2022/23 balance of supply and demand could end up with stocks ...