Brazil's 2024/2025 soy crop seen at record, says Agroconsult
Updates with additional detail
By Roberto Samora
SAO PAULO, Nov 28 (Reuters) -Brazil's 2024/2025 soybean crop was seen at a record172.2 million tons, consultancy firm Agroconsult said on Thursday.
If confirmed, the output would surpass the current historic high for a single season of 162.4 million tons, which was set in 2022/23. It would also be up 10.7% from the previous cycle, when yields were hit by an adverse weather.
At an event in Sao Paulo, Agroconsult estimated Brazil's 2024/2025 soy planting area at 47.5 million hectares, up 1.5% from the previous season.
Its estimatewas higher than the projections from national crop agency Conab, which earlier this month saw the crop in the world's largest soybean producer at 166.1 million metric tons.
Agroconsult head Andre Pessoa said the soy output estimate could still be revised to the upside, citing "excellent" conditions in states such as Mato Grosso, Brazil's top producer, and Goias.
Brazilian farmers have largely been planting soybean since September.
Agroconsult also sees Brazil's soy exports reaching 103.4 million tons, from the 98.2 million tons expected for 2024. That would also be a record, beating the previous historic high set in 2023.
Reporting by Roberto Samora; Writing by Andre Romani; Editing by Kylie Madry
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