USDA’s attaché in Brazil is expecting farmers to plant 42.5 million hectares (ha) in 2022-23, up from the estimated 40.7 million ha planted in the 2021-22 season. The forecast is based on current market conditions and trends – including strong demand, high prices and a favorable exchange rate. However, the Russia/Ukraine war and resulting fertilizer supply concerns may constrain expansion. Assuming a return to normal weather conditions, the post predicts Brazil’s soybean production at 139 MMT, up from the estimated 124.8 MMT harvest this season. The post expects soybean exports from Brazil to rebound to 87 MMT for 2022-23, compared to the estimated 77 MMT for 2021-22.
Get Pro Farmer market alerts, just $1 for 1 month to try it out.
