STONEX BOOSTS BRAZIL’S SOYBEAN, CORN OUTLOOK AS EXPORT FORECASTS REMAIN FIRM

Consultancy StoneX has upgraded its projections for Brazil’s 2024-25 grain harvest, citing exceptional second-corn crop performance and record soybean yields, which brought overall production to 132.4 million tons, a 9.4% rise over the previous year. However, this falls short of the mark set in 2022-23. The improvement can be attributed to the favorable weather conditions in the South and Midwest. Mato Grosso stood out among soybean-growing states, with an estimated record yield of 168.4 million tons, up 12.1% from the previous season. China and the United States are locked in a tariff war, which has limited soybean shipments at an estimated 107 million tons and corn exports at 42 million, down from 38.5 million last year. New updates may occur, according to StoneX, depending on the weather.
Fonte: Reuters/Notícias Agrícolas (*Translated by Ia Niani)