Brazil should harvest 156.5 million tons of soybeans in the current 2023/24 season, consultancy Agroconsult told journalists on Wednesday.
- In February, consultancy expected 152.2m million tons of soybeans
- Estimate for the current season is still lower versus the 162.4m tons reported for the 2022/23 crop year
- Improvement in estimates reflects a more detailed investigation on planted area, according to Agroconsult President André Pessôa
- Total planted area seen at 46.4m hectares (114.6m acres), above the 45.7m hectare estimate from February
- Forecast is also above the current estimate from Brazil’s crop agency Conab
- Dry, hot weather as of late 2023 had negative impact to early planted crops in top grower state of Mato Grosso
- Other regions that postponed planting benefited from more regular rainfall in 2024