StoneX has reported that Brazil’s soybean crop for the 2023-24 season is estimated to reach a record of 163.5 million tons, reflecting a 3.7% increase from the previous year. StoneX has attributed this increase to an expansion in planted areas and higher average national productivity. For the upcoming season, the historical maximum can be achieved with a 2.1% increase in planted area, reaching 45.1 million hectares. This report is StoneX’s first estimate for the 2023-24 soybean crop.
SOURCE: FORBES (*Translated by Ia Niani)