Soybean harvest in Brazil may not be a record – Datagro

The gross harvest of soybeans in Brazil in the season-2023/24 may not be a record, according to Datagro experts. They reduced the estimate of the oilseed production in the American region by 7.1 mln tonnes to 156.6 mln tonnes within a month. The current value is 0.7 mln tonnes lower than in 2022/23 MY.

“The reduction of the harvest is expected against the background of the worst yield compared to last year and reduction of the initially planned sown area due to irregular precipitation,” the experts said.

According to their estimates, this season, 45.4 mln ha of crops will be allocated for soybeans in the country, which is 300 thsd ha lower than the previous Datagro estimate, but 0.7 mln ha higher than the previous agricultural year.

Also, Datagro analysts forecast the lower corn harvest in the country – 119.6 mln tonnes (-4.8 mln tonnes compared to the previous forecast; in 2022/23 MY 136.1 mln tonnes were harvested). It is expected that the first harvest of the grain crop will be almost 26 mln tonnes (27.8 mln tonnes in 2022/23 MY), and safrinha – 93.6 mln tonnes (108.2 mln tonnes).

Tags: Brazil, soybean, crop forecast