Brazil to have record soybean crop in 2022, study shows

RIO DE JANEIRO, BRAZIL – Brazilian soybean growers are preparing for a record soybean crop in 2022, boosted by mild weather and an expansion of planted area, according to estimates by 12 analysts published on Wednesday.

Analysts expect Brazil to harvest 144.12 million tons of the oilseed early next year, up 5% from the previous season, based on estimates from the government’s food supply and statistics agency.

The projection exceeds the 143.94 million tons forecast in the previous study released in November.

If confirmed, the volume will also represent an increase of approximately 5% over the 137.32 million tons of soybeans harvested in 2020/21, according to the National Supply Company (CONAB).

This is due to an increase in planted area and the fact that most producers were able to plant the oilseed within the ideal window.

It should be noted that in the rest of Brazil, the weather has been favorable for the plants’ development, with regular rainfall, analysts said. In terms of area, the study points to an estimated record of 40.35 million hectares, 3.67% higher than in the previous season.

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