The area under soybean cultivation in Brazil could increase by less than 2024% in the 25/1 season to the level of the 2023/24 marketing year - from 45,2 million hectares to 45,6 million hectares. This forecast was published by specialists from the Foreign Agricultural Service of the US Department of Agriculture (FAS USDA).
They point out that the weak year-on-year growth will be due to the high cost of growing oilseeds and low sales prices. According to the experts, farmers will have “little incentive or available capital to expand acreage at the same pace as in previous years.”
Meanwhile, the USDA FAS forecasts a higher Brazilian soybean harvest for the 2024/25 marketing year than the current season - 157,5 million tons versus 155 million tons. However, the final result is expected to be lower than in the 2022/23 marketing year (162 million tonnes).
Oilseed yields are estimated at 3,45 tonnes/hectare for the coming crop year, compared to 3,376 tonnes/hectare in the 2023/24 marketing year and 3,632 tonnes/hectare in 2022/23, the experts said.
Source: Ukragroconsult (Ukraine)