The forecast has been adjusted after lowering the rating of the cultivated area. However, this does not change the overall picture in the market, farmers prefer to expand the area under soybean, reducing under maize because of its low domestic prices. Experts predict a rise in the sowing area of soybeans by 5% compared to last year to 35.49 million hectares. evaluation of the soybean crop, published by Safras&Mercado, is a new record for the country.

According to the state Agency, Conab, in the 2016/17 season, the farmers of Brazil gathered 114,1 million tons of soybeans, which was a record amount. In the 2017/18 season, Conab expects production at the level of 109.2 million tonnes, but this forecast may be upgraded to reflect changes in weather conditions.

Photo: greenarea.me