Brazil soy farmers aren’t expected to make investments or expand their planted area in the next crop season because of lower crop prices and upcoming debt payments, said Cleiton Gauer, superintendent at IMEA, a private agency responsible for crop forecasts in Mato Grosso.
- Current soy prices aren’t high enough to cover farming costs in Mato Grosso: IMEA
- Soy farmers earnings before items such as interest, taxes, depreciation and amortization expected to be 83% lower in 2024-25 season due to higher costs and falling soy prices: IMEA
- Corn farmers forecast to see financial losses in 2024-25 for the second harvest in a row
- Grain growers will keep soy acreage unchanged while also lowering investments, especially in machinery, according to Mauro Osaki, a researcher at University of Sao Paulo
- In the 2023-24 crop year, soy farmers in Sorriso, a key city in Brazil’s biggest producing state Mato Grosso, saw negative net-operational revenue due to falling prices and soy yields
- Osaki and Gauer spoke at a press conference