SAFRAS raises Brazil’s soybean production estimate to 144.7 mln tons


     Porto Alegre, November 8, 2021 –The Brazilian production of soybeans in 2021/22 must total 144.7 mln tons, up 5.4% from the previous season’s 137.3 mln tons. The number is part of SAFRAS & Mercado’s latest production estimate, released on November 5. In July, when the previous report was released (planting intentions), the projection was 142.2 mln tons.

     With the planting over halfway complete, SAFRAS indicates a 4% increase in the area, estimated at 40.5 mln hectares. In 2020/21, planting occupied 38.96 mln hectares. In the previous report, SAFRAS indicated an area of ​​39.82 mln hectares. The survey points out that average productivity must rise from 3,542 to 3,590 kg/ha.

     In this latest update, positive adjustments were made in areas expected for states in the South, Midwest, and Southeast regions, with highlight on increases in the three largest growing states of the country (Mato Grosso, Paraná, and Rio Grande do Sul).

     Besides these three states, there were also important adjustments in the states of Minas Gerais and Mato Grosso do Sul.

     High prices practiced in the domestic soybean market, for both the rest of the physical crop and deliveries of the new crop (mainly), once again stimulated the switch of areas from other crops to the oilseed. Besides, the recent fall in fattened cattle prices seems to encourage greater migration from pasture areas to soybean crops, also opening new areas.

Copyright 2021 – SAFRAS Latam