Brazil's Ministry of Agriculture forecasts an expansion of the country's soybean acreage to 2031 million hectares in 32/51,5, which will exceed the 2021/22 season by 24%.
The largest increase is expected mainly in the Matopiba production region, which includes the states of Maranhão, Tocantins, Piaui and Bahia - by 16% to 10 million hectares.
The entire Brazilian soybean production in 2031/32 could reach 179,3 million tons (+32% on 2021/22 result), while oilseed exports are 115 million tons (+49%).
In addition, Brazil's farmers are expected to reduce the acreage under Corn up to 24,6 million hectares (+14%), including Safrinha grain up to 21,7 million hectares (+32%). The total production of Brazilian corn in 10 years can reach 150 million tons (+ 32%), while its exports are 46,3 million hectares (+ 25%).
Overall, the total production of Grains and Oilseeds in Brazil in 2031/32 forecast by the ministry at 370,5 million tons (+37% on the 2021/22 season result).