According to the agricultural market consultant, Vlamir Brandalizze, the soybean sector is forecast to reach record-breaking volume in crop year 2021/22. “I believe that soy production will reach above 145 million tons, with a great potential to surpass 150 million tons,” he says. These numbers are higher than those projected by Conab (142 million tons) and by the USDA (144 million tons). “In addition to this production record, I also believe that the soybean sector will export around 115 million tons. I also believe in record sales, with at least 55 billion dollars in exports”. Brandalizze says that due to an apparent full crop in South America, Chicago should work at an average of 12 to 13 dollars per bushel, but perhaps with lower premiums in Brazil due to the greater volume to be shipped. “We hope that, at the peak of supply, prices will vary in the Brazilian ports by R$ 150 and at the best times around R$ 170, he says.
Source: Canal Rural (*Translated by Ia Niani)