Brazil’s 2018/19 soybean crop forecast was cut to 116.9 million tons on Wednesday from 121.4 million tons late in November, said consultancy AgRural, blaming extreme heat and a dry spell in southern areas for the smaller projection.
Brazil's Mato Grosso farmers are happy about their soybean planting progress this year, as they have finished sowing almost 90% of their soybean acres and are expecting an early harvest at the end of December.
Brazil’s National Supply Company (Conab) has released its monthly report this week, and it projects that the country will produce 119.4 million metric tons. Last season, the country produced 119.2 million metric tons. The surface would jump from 86.7 million acres to 89.2 million acres.
Brazil's 2017/18 soybean crop is expected to reach 115.6 million tons, a record volume, 1.2% above the previous record last year of 114.2 million tons, according to an updated forecast from consultancy Safras & Mercado.
Brazil’s 2013/14 soybean crop that starts planting in September is expected to grow by 9% under normal weather conditions to a record 89.1 million tons, local crop analyst AgRural said in a release.