December 16, 2014
Brazil’s official commodity bureau, Conab, is projecting Brazil’s 2015 soybean production to be a record 95.8 million tons due to an increase in the area planted and the return of regular rainfall to major growing regions after drought earlier in the year. This forecast represents an increase over the bureau’s previous November estimate of 91.7 million tons, and an 11% increase over the country’s 2014 production of 86.1 million tons. Growers continue to switch from corn to soybeans because of price differentials, and the country is expected to see an increase of 4.9% to its soybean acreage this year reaching 31.7 million hectares, up from a previous estimate of 31.3 million hectares. Soybean yields are predicted to be 3,026 kilograms (6,671 pounds) per hectare – 6% above last season’s yields and the highest since 2010/11. The markets will be watching the weather in Brazil closely to see if the country will indeed meet these forecasts.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free weekly enhanced eNews service
Let GAI News inform your engagement in the agriculture sector.
GAI News provides crucial and timely news and insight to help you stay ahead of critical agricultural trends through free delivery of two weekly newsletters, Ag Investing Weekly and AgTech Intel.