Brazil is forecast to produce 124.01 million mt of soybeans in the 2019-20 crop year (September-August), up 1.9% on January estimates and 8% higher year on year, amid good harvest pace and productivity, according to commodities consultancy INTL FCStone.
According to a report at S&P Platts, soybean harvest in 2019-20 reached 9% of projected area of 36.4 million ha in Brazil, as of January 30, up 4.8 percentage points week on week on favorable weather across the region, agricultural consultancy AgRural said on Monday.
Sufficient rains across the region in past few weeks have also raised the soy yield projections. According to the national crop agency Conab's latest report, Brazilian soybean yield in 2019-20 is expected to rise 4% on the year to 3.32 mt a hectare.
According to FCStone, the estimated soybeans export in calendar year 2020 is forecast at 72 million mt, up 3% year on year.
