Brazil’s Conab raises 2024/25 soybean output estimate

Brazil's national crop agency, Conab, has increased its 2024/25 soybean output forecast to 167.87 million metric tons from 167.37 million tons, making Brazil the world's largest producer and exporter of soybeans. The states contributing to the record oilseed productivity include Sao Paulo, Goias, Tocantins, and Mato Grosso, but Rio Grande do Sul continues to underperform due to poor weather conditions. Conab also predicts a total corn crop harvest of 124.74 million tons, with 97.89 million tons being second corn, which accounts for three quarters of the country’s annual output. Favorable conditions for planting the second corn crop are expected in most regions, despite a slight hindrance from reduced rainfall in February and early March.

Brazil’s national crop agency Conab raised its forecast for 2024/25 soybean output in the world’s largest producer and exporter to 167.87 million metric tones from 167.37 million tons. Record oilseed productivity was registered in states such as Sao Paulo, Goias, Tocantins, and Mato Grosso, while Rio Grande do Sul continued to underperform due to poor weather conditions, Conab said in the report. The agency also predicted local farmers will harvest a total corn crop of 124.74 million tons, including 97.89 million tons of second corn, which represents about three quarters of the country’s output in a given year. Farmers in Brazil normally sow their second corn crop after soybeans are reaped. Conditions for planting the second crop were favorable in most producing ...