Soy dribbles dry and Brazilian production jumps to 154.2 million tons

Published 2023년 3월 6일

Tridge summary

StoneX has revised its forecast for Brazil's soybean production for the 2022/23 season to 154.2 million tons, up from 153.79 million tons, despite concerns over a dry climate in the south. The increase in production is attributed to satisfactory results in other states, leading to a positive balance of supply and demand, with the potential for slightly higher stocks than previous years. Despite losses due to drought in southern Brazil, the corn crop is expected to show good development in other regions, resulting in an increase in domestic production. StoneX also notes an increase in the area planted with safrinha corn in Brazil, reaching over 18 million hectares, and a record production of 129.9 million tons for the 2022/23 season is possible.

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

Original content

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 ...

Source: Revista Campo Negocios