A record-breaking soybean season ends in Brazil as uncertainties loom

By Guilherme Signorini, Department of Horticulture and Crop Science, The Ohio State University

As the 2024/25 Brazilian grain season develops, our analytical projections over the country’s total soybean and corn production align with reality. The most recent reports from CONAB and USDA sustain previous predictions of record-high soybean production in Brazil this season. While methodological differences distinguish results, both agencies indicate that Brazil’s soybean production will overcome the 162 million metric tons (MMTs) record of 2022/23. CONAB estimates the country’s production of the golden-colored grain at 166 MMTs. The USDA Foreign Agricultural Services (FAS) department is more optimistic and predicts 169 MMTs this season (+10.4% against 2023/24). The overall corn production is also expected to increase by 3% compared to last season, totaling 126 MMTs according to USDA/FAS.

The state of Mato Grosso (MT), responsible for 28% of the country’s soybean production, is advancing fast with harvest. Consulting groups estimate that 54% of the production fields in the state will be harvested by the end of February, out of 31.4 million acres dedicated to soybean main crop.… Continue reading