Record Brazilian soybean supply set to pressure competition in 2022
Record acreage leads to unprecedented output Brazilian beans price competitive as real weakens Brazil to remain world’s top supplier on robust China demand B10 mandate unlikely to dampen crush momentum The Brazilian soybean sector is forecast to produce record-breaking volume in the crop year 2021-22 (September-August), likely pressuring major rivals the US and Argentina. The National Supply Company, or Conab, and the US Department of Agriculture expect Brazil’s soybean production at 142.8 million…
Brazil the worlds largest soybean grower plan to expand the production area due to local shortages
Brazilian farmers are planning to expand their soy area for the 15th consecutive year, according to a survey by consulting firm Datagro. The world’s largest soybean producer and exporter will increase the area sown by 4%, to 40.57 million hectares in the 2021/2022 season. With this area, Datagro estimates that the Brazilian harvest will reach some 144.06 million tons of soybeans in the coming season, which farmers will start planting in September. This means next year’s production, which is harvested…
Brazil agribusiness group seeks bankruptcy protection
Privately owned Brazilian agribusiness group Itaquere has filed for bankruptcy protection to restructure 482 million reais ($127 million) of debt, according to a letter from management seen by Reuters. In the letter dated March 21, the group, based in Brazil’s top grains state Mato Grosso, blames a prolonged economic crisis, along with adverse climate conditions and currency swings, for its financial woes. The letter was signed by the group but not by any particular executive. Itaquere and MLuz, named in…
Brazilian farmers in Mato Grosso satisfied with the soybean planting progress
Brazil’s Mato Grosso farmers are happy about their soybean planting progress this year, as they have finished sowing almost 90% of their soybean acres and are expecting an early harvest at the end of December. “The weather is so good this year, as rain comes to the state early and keeps going on almost every day,” said Daniel Latorraca Ferreira, director of the Institute of Economics and Agricultural Mato Grosso, (IMAE). “This good weather will help the crop development, and we will be able to start…
Brazils Soybean 2018 plantings forecast to break all records
A 2% increase in planted area in the 2018-19 season is due to expectations of higher prices, and greater demand from Chinese buyers, plus an increase in domestic consumption. Soybean planted area in Brazil is forecast to set a new record for the ninth consecutive year at 35.8 million hectares, according to an April 24 Global Agricultural Information Network (GAIN) report from the U.S. Department of Agriculture. The 2% increase in planted area in 2018-19 is due to expectations of higher prices, higher-than-expected…
