Source: Oleoscope (Russia)
According to Conab’s preliminary forecasts, Brazil will harvest a record 166.3 million tons of soybeans in the 2024/25 marketing year, an increase of 12.8% compared to the previous season. The forecast increase in production in the world’s largest soybean producer and exporter is based on an expansion of the area under cultivation, which is set to rise by 3% to 47.4 million hectares (117.1 million acres), as well as higher yields.
According to experts, soybeans are still a profitable and very liquid crop. Rising demand, driven by increased processing and biofuel production both in Brazil and abroad, is fueling expectations that domestic consumption and exports will rise to new highs.
According to the agency, the total grain and oilseed harvest in 2024/25 is expected to reach a record 326.9 million tons, up from 302.2 million tons in the previous season.
Analysts had previously warned that Brazil’s colossal soybean harvest in 2025 would depress prices. Brazil accounts for almost 60 percent of global soybean exports. With this year’s harvest expected to be the largest in the country’s history, the market will be oversupplied with soybeans, exacerbating the current oversupply. The USDA forecasts that global soybean stocks will reach an all-time high in 2024/25, increasing by almost 22 million tons compared to the previous year.
