DATAGRO ESTIMATES SOUTH AMERICA’S 2023-24 SOYBEAN HARVEST AT 222.343 MILLION TONS

Datagro Grains has recently conducted a second survey for the 2023-24 soybean harvest in South America. According to the survey, the projected production of soybeans for the season is expected to reach 222.343 million tons, which is a 15% increase from the 2022-23 harvest of 194.098 million tons. This production is expected to be higher than the record of the 2020-21 season, which was 198.482 million tons. Brazil’s production is expected to decrease by 4% over the record of 159.233 million tons recorded in the 2022-23 harvest. According to Datagro, this might be the 17th consecutive year of expansion in the country’s soybean area, which is predicted to climb from 44.684 million hectares to 45.364 million hectares.
Source: Dinheiro Rural (*Translated by Ia Niani)