With the advancement of the harvest, the attention of Brazilian soybean growers turns to crop monitoring. Trading continues in the background, also because market conditions do not favor the resumption of business, which remains only isolated.
Brazilian soybean growers are expected to reap 124.554 million tons in 2019/20, up 4.4% from the previous year, when production hit 119.306 million tons. The projection is part of the most recent survey by SAFRAS & Mercado, released past Friday. In the previous report, released on January 10, SAFRAS was betting on a production of 123.589 million tons.
SAFRAS estimates an area of 37.072 million hectares, up 1.9% from the previous year and breaking a new record. Last year’s area occupied 36.384 million hectares. Productivity is estimated at 3,377 kilograms per hectare, exceeding the average yield of 3,296 kg obtained last year.
Only positive fine adjustments were made in the expected average yield for some growing states in the Midwest region, besides a small positive adjustment in the size of the sown area in the country’s main growing state.
The evolution of the harvest began to reveal higher than expected yield in Mato Grosso and Goiás. This fact supports the increase in the average yield expected for these states.
Excess rainfall registered in some states in the central strip of the country in January did not quite affect most crops.
In Rio Grande do Sul and Bahia, the return of moisture in January was positive for part of the crops that had been hard hit by a drought in late 2019 and early 2020, bringing some recovery to plants and preventing losses from increasing. Brazil is consolidating the harvest of a new record output.