The export potential of Brazilian soybeans in the current season is still at a record level, according to experts of the National Association of Processors Abiove. According to their monitoring data, the gross harvest of South American oilseeds will be at the level of 152.6 million tons, which is more than 27 million tons higher than the level of 2021/22 MY.
“The increase will occur against the background of the expansion of sown areas and an increase in crop yields,” experts said yesterday.
Industry experts also left unchanged the estimate of the sale of Brazilian soybeans to foreign markets – 92 million tons in 2022/23 MY against 78.9 million tons a season earlier.
The volume of oilseed processing is expected to reach 52.5 million tons (+ 3.1 million tons by 2021/22 MY).
As for field work, then, according to the estimates of the consulting company Patria Agronegocios, soybean harvesting in the country took place on an area of 9.86% of the plan against 20.4% compared to the same period last year.
“Harvesting is progressing slowly due to rains in key producing regions,” they added.