Brazil’s Mato Grosso to harvest record 42m mt soybean crop: IMEA

Brazil’s largest soybean producer Mato Grosso is expected to harvest an all-time record of the oilseed in the 2022/23 season, with a slight month-on-month uptick, the state’s agriculture institute IMEA showed late Monday.

Mato Grosso’s 2022/23 soybean output was pegged at 41.8 million mt, slightly above IMEA’s figures released in September due to improved yield prospects.

“Parts of the state received rains in the second half of September, allowing producers to send the machines to the fields,” the institute said.

IMEA added that forecasts indicating significant rainfall volumes for the coming thirty days over a large part of the state underpinned an increase in yield estimates that were lifted 0.7% compared to the previous report.

At the same time, IMEA has kept its acreage estimates unchanged at 11.8 million hectares, nearly 3% higher than in 2021/22.

New crop output estimates are now pegged 2.3%, or 927,300 mt, above the previous marketing year when Mato Grosso had already lifted from its fields a record high crop of 40.9 million mt.