AGRESOURCE RAISES PROJECTIONS FOR BRAZIL’S SOYBEAN AND CORN OUTPUT

AgResource Brasil, an agribusiness consultancy, has revised its forecasts upward for Brazil’s soybean and corn 2024-25 crops. The updated soybean projection now stands at 171.03 million tons, surpassing earlier estimates as well as those from Conab (at 167.86 million) and the USDA (at 169 million). Despite drought-related losses in Rio Grande do Sul, record-breaking productivity in Mato Grosso has offset these losses. Nationally, soybean harvesting is 97.7% complete, significantly ahead of the previous year’s pace. Corn output is predicted to be 126.02 million tons, led by April rains and gains in Mato Grosso, beating Conab’s predictions (124.7 million) and matching the USDA’s (126 million).
Source: Canal Rural (*Translated by Ia Niani)