StoneX anticipated a record 166.2 million tons of Brazilian soybeans, 0.7% more than before, because of the larger planted area of 46.75 million hectares, an annual increase of 1.3%. As production increased in states like Paraná, the average remained at 3.55 tons per hectare. StoneX specialist Ana Luiza Lodi predicts a high harvest because of wider and greater rains, compensating for planting delays. However, the rapid development leaves crops in the same stage of development, which increases the risks in case of weather-related problems. Although the 2023–24 harvest shows great demand, the supply and demand balance for the 2024–25 crop is still intact; should the record be confirmed, stockpiles might reach 5 million tons by next year.
Source: StoneX / Notícias Agrícolas (*Translated by Ia Niani)
RECORD-BREAKING BRAZILIAN SOYBEAN PRODUCTION PROJECTED FOR 2024-2025 CYCLE
Published On - 7 de November de 2024