According to the U.S. Department of Agriculture, in its world agricultural supply and demand estimates, US 2022/23 soybean production was projected at 4.64 billion bushels (126.28 million tons). In the 2021/22 crop year, US soybean production totaled 4.435 billion bushels (120.71 million tons). Brazil’s soybean output is expected to hit a record 149 million tons in the 2022/23 season, to be planted by September. US 2022/23 corn production was forecast at 126 million tons, against the amount previously expected for the current cycle, which was 116 million tons. For the soybeans 2021/22 in Brazil, which have already been harvested, the entity maintained the projection of 125 million tons.
Source: Revista Globo Rural (*Translated by Ia Niani)