According to SAFRAS & Mercado, the beginning of the cycle of the new Brazilian soybean crop shows that Brazil may well have its biggest soybean crop in history. With about 70% of the estimated planted area and favorable weather, the crops have developed well in Brazil. Soybean production in 2022/23 is expected to total 154.53 million tons, up 21.3% over the previous season’s crop (127.44 million tons). If confirmed, it will be the biggest harvest in Brazil’s history. SAFRAS indicates an increase of 3.7% in the planted area, estimated at 43.74 million hectares. In 2021/22, the planted area was 42.16 million hectares. The average productivity is expected to increase from 3,038 kilos per hectare to 3,551 kilos.
Source: Safras&Mercado (*Translated by Ia Niani)