URBANA, IL – Soybean production in Brazil over the past 30 years has increased almost ninefold according to data from the National Supply Company and presented by the University of Illinois’ FarmDoc. Harvest is underway, and the forecasts so far are for another record crop in Brazil, despite a dry planting season and excessive rain toward the end of the season. Brazil’s growth in the past three decades results from increases in planted area and increases in yields. In the past several years, Brazil has surpassed the United States and has become the largest soybean-producing nation. Last year, Brazil is projected to have produced 4.6 million bushels of soybeans while the U.S. produced 4.1 million bushels (USDA). Dr. Gary Schnitkey, University of Illinois Agricultural Economist says Brazil’s soybeans exports are 3 million bushels valued at $28.6 billion in U.S dollars, ranking second all-time among Brazil’s soybean exports. China purchased 73 percent of the Brazilian crop worth an estimated $20.9 billion (Mapa, 2021).
More information is at FarmdocDaily.Illinois.edu
(SOURCE: All Ag News)