About 186.3 million tons of soybeans can be produced on the territory of South American countries by the end of the 2021/22 marketing year. Such data are given by analysts from OilWorld (Germany) in their latest report. If experts’ expectations are justified, the indicators of the gross harvest of oilseeds will be 7.4 million tons lower than the estimate of the last season.
“Experts lowered the forecast for the total soybean crop in the current season in Argentina, Brazil, Paraguay and Uruguay to 186.3 million tons, significantly below the December forecast (202 million tons) and below the result of 2020/21 MY (193.69 million tons), due to the deterioration of weather conditions in the region,” the report says.
As for Brazil, according to analysts at OilWorld (Germany), soybean production here could fall to 135 million tons, compared to 138.5 million tons in the previous season, despite the growth of sown acreage under oilseeds to 43.3 million hectares.
In Argentina, the outlook for soybean production has deteriorated significantly due to drought. Farmers are expected to harvest about 42 million tons of this crop in the current MY (43.8 million tons in 2020/21 MY).
“According to experts, 60% of the oilseed area recorded a deficit in soil moisture (37% last year), leaving 29% of soybean crops in poor and very poor condition (23% in 2021),” the report says.
Soybean production could also decline in Paraguay, where the gross crop is expected to be 7 million tons, down from 9.54 million tons in 2020/21 MY.
The opposite situation is observed in Uruguay: Here, the crop may reach 2.3 million tons (1.85 million tons in 2020/21 MY).