Brazil’s soybean harvest slashed by another 10 million tons

Brazilian soybean production in 2021/22 should total 132.33 million tons, representing a cut of 8.55% or more than 10 million tons in the estimate made before the drought issues in the South and in Mato Grosso do Sul, according to Safras & Mercado consultants in a Friday report.

RIO DE JANEIRO, BRAZIL - The consultancy, which had previously projected Brazil's production at 144.7 million tons, is yet another analyst that cut the estimate of the Brazilian crop by more than 10 million tons, in revised figures released since the beginning of January.

At least 7 consulting firms made double digit cuts or very close to 10 million tons, including StoneX, AgRural, Agroconsult, AgResource, Cogo and Pátria Agronegócios.

Among these, Cogo Agribusiness Intelligence this week released one of the most drastic cuts, with a decline in its projection by almost 15 million tons, to 131 million . . .

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