StoneX consulting has increased its estimate for 2022/23 soy production in Brazil. The company expects a small increase, going to 155 million tons, because of the revision of the planted area, with the national total increasing from 43 to 43.4 million hectares. “The outlook for the Brazilian soybeans is quite positive, even with below-normal rainfalls in many areas. The weather in the coming weeks and months will still be very important in determing the actual harvest”, said Ana Luiza Lodi, an analyst at StoneX. If the production reaches 150 million tons, it could ensure a more secure supply and demand balance in 2023, with room for exports and crushing increases.
Source: Canal Rural (*Translated by Ia Niani)