The Brazilian Association of Vegetable Oil Industries (Abiove) reported last Thursday that the soybean crop in Brazil is expected to be at a record 152.6 million tons this year, maintaining the same forecast released in the previous month. The entity continues expecting soybean crush to reach 52.5 million tons and exports to reach 92 million tons. The world’s largest producer and exporter of soy is on track to increase its harvest by 18.7% compared to last season due to increases in planted area and productivity. The successful harvest in several regions will offset drought losses in Rio Grande do Sul, another important producer.
Source: Globo Rural (*Translated by Ia Niani)