AgRural raises Brazil soy production estimate to 112.9 million mt

Brazilian consultancy AgRural has increased its estimate for Brazil’s 2017/2018 soy crop to 112.9 million mt, up 2.7 million mt in the past month due to an increase in the area planted and yield.

The consultancy now expects yield to be 54.1 sacks per hectare, up from November’s estimate of 53 sacks, it said in a release on Friday.

“[This is] below the record of 56.1 sacks per hectare harvested in the 2016/17 harvest, when Brazil produced 114.1 million mt,” it said.

Hot days and heavy rain in the evenings has meant much of Brazil has experienced perfect growing conditions throughout the country.

If the projection is realised, the 2017/2018 will be the second largest crop on record after the 2016/2017 year.

That contrasts with Argentina, where meteorologists fear the country may be experiencing the first few signs of an impending La Nina, with the sowing rates hit by dry weather.