July 1, 2022

Brazil expected to harvest about 148 million tonnes of soy next season

Farmers in Brazil are expected to harvest close to 148 million tonnes of soybean in the upcoming season, as they grow plantings and increase yields following a dry spell that cut productions in current crop year that is about to end, Reuters reported.

A Reuters organised poll found that eight analysts projected the upcoming planted area in Brazil may increase by about 3% to 42.2 million hectares (104.2 million acres).

Brazil is the biggest soybean exporter in the world.

Due to Ukraine's grain supplies being blocked, Brazil's local port authority said Brazilian corn exports through the southern port of Paranagua increased an unusually high 161% in the first five months of the year.

-      Reuters