January 13, 2023

Brazilian farmers to harvest bigger soybean crop compared to last season

Farmers in Brazil are expected to harvest a bigger soybean crop compared to last season, despite dryness in southern parts of the country and a delayed start to the harvest in the centre-west region due to rains, Nasdaq reported.

An Agroconsult report showed farmers in Brazil are on track to produce a record crop of 153.4 million tonnes, with average yields expected to increase to 59.2 60 kg bags per hectare from 51.8 bags at the end of the previous season.

The consultancy also said corn farmers in Brazil have good prospects as it released projections ahead of the start of its annual field survey of the major soybean growing regions of the nation in the coming weeks.

Agroconsult said Brazil will produce 29.6 million tonnes of first corn in 2023.

Brazil's second-corn production could be 101.3 million tonnes, or about 9 million tonnes more than in 2022, if farmers plant their second corn on the anticipated 17.5 million hectares.

-      Nasdaq