Brazilian soybean production forecast lowered

Drought is causing crop stress
calendar icon 12 January 2022
clock icon 1 minute read

A trade group representing global soy crushers such as Cargill and Bunge in Brazil on Wednesday reduced its soybean output forecast for the 2021/2022 season, citing a drought in Southern Brazil, reported Reuters. 

In a statement on Wednesday, Abiove said it expected Brazil to produce 4.8 million fewer tonnes of soy this year, pegging total output at 140 million tonnes. Because of lower product availability, Abiove also cut its export projection by 2% to 91.1 million tonnes.

Source: Reuters

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