Porto Alegre, September 23, 2024 – Brazilian soybean production in 2024/25 is expected to total 171.78 mln tons, an increase of 12.8% over the previous season’s crop, which was 152.3 mln tons. The new estimate was released by Safras & Mercado last Friday (20).
In July, the date of the announcement of Safras’ planting intention, the projection was 171.54 mln tons. Positive adjustments were made to the expected area for the state of Rio Grande do Sul. The expected decline in the corn area, due to the increase in agricultural insurance costs, should lead some areas, previously destined for cereal, to be switched for the oilseed in the state, which endorses the increase in the area to be planted with soybeans, also increasing the expected production. We point out, of course, that the climate will be a decisive factor for the new Brazilian production. We understand that the current delays in the start of Brazilian sowing have not yet impacted the productive potential of the new crop, since if the weather improves from October it will still be possible to plant the entire estimated area and achieve full production. However, everything depends on the arrival of rain and its regularity.
Safras indicates an increase of 2.1% in the area, estimated at 47.4 mln hectares. In 2023/24, the planting occupied 46.46 mln hectares. The survey indicates that average yield should increase from 3,295 to 3,642 kilograms per hectare.]
Safras New