AgResource Brazil reduces soy production for 21/22 season

Nov, 24, 2021 Posted by Ruth Hollard

Week 202145

AgResource Brasil, a subsidiary of the North American company AgResource Company, reduced soy production in Brazil in the 21/22 season. In a review carried out this month, the harvest was forecast at 141.03 million tons compared to the 143.69 million tons forecast in September. The setback was 2.66 million tons or 1.8%.

The agency’s estimate is also lower compared to the 142 million ton estimate by CONAB (the national supply company) and in relation to the 144 million tons forecast by the United States Department of Agriculture (USDA).

Brazilian Soybean Exports (HS 1201) | Jan 2018 to Sep 2021 | WTMT

Source: DataLiner (click here to request a demo)

On the other hand, the area planted with oilseed recorded a slight increase of 0.9%, from 39.88 million hectares in September to 40.27 million hectares in the November estimate.

The director of AgResource in Brazil, Raphael Mandarino, explains that this drop is motivated by the expectation of reduced productivity. “Despite the increase in new areas of soy, the excess of rain, mainly in the midwest region of Brazil, generates a lower yield trend than initially estimated”, he comments.

Source: Rural Channel

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