Brazilian soybean production should total 123.6 thousand tons

Posted by Marina

Brazil's soybean production in 2019/20 should reach 123.589 million tons, said consultancy Safras & Mercado on Friday, which reduced the estimate from 125.465 million tons projected in December.

According to Safras, the soybean acreage in the country this season tends to reach 37.032 million hectares, an increase of 1.8% over the previous year, which would represent a new historical record.

The reduced projection compared to the previous estimate includes negative adjustments in the average yields of Rio Grande do Sul and Bahia.

For the 2019/20 corn crop, the consultancy projected a total harvest of 103.262 million tons, compared to the previous projection of 104.134 million tons, due to “problems with the drought in the Southern region”.

The area sown with the cereal should be 17.953 million hectares, down 0.3% from the previous season.

According to a statement from the company, the second crop of corn - the main commodity in the country - could reach 73.559 million tons, compared to 72.65 million in the previous month's forecast.

Source: Agrolink