Brazil Headed for Bumper Soy Crop
Production is pegged at 123.9 MMT, a new record for the country
The 2019/20 soybean crop harvest has started with expectations for a record production in Brazil, reports Ohio's Country Journal.
Despite planting delays in some states due to irregular rains in the fourth quarter of 2019, production is pegged by consultancy AgRural at 123.9 million metric tons, 1.2 million up from the previous estimate and a new record for the country, above the 119 million metric tons produced two years ago.
By Jan 16, 1.8% of the soybean area had been harvested in Brazil, most of it in top producer Mato Grosso, where yield reports have been coming at the high end of expectations.