Production estimates reached record levels for Brazil and Argentina’s winter soybean crops ahead of the 2024-2025 planting season.
A USDA report predicted 169 million metric tons of soybeans in Brazil, a 10.4 percent increase from the previous marketing year. Argentina’s predicted output was 52 million metric tons, a jump of 7.86 percentage points from the 2023-2024 forecast. But, since that forecast came out December 10, each country’s crops have been clouded by shifting weather. Dry conditions in northern Argentina lasted throughout December, and maps are showing the area has received between 50-80 percent of its normal rainfall.
In Brazil, weather has been drier than normal during the early planting season. December saw much of southern Brazil nearing 80 percent of its average rainfall. Rainfall the country saw in the final two weeks of 2024 is expected to continue through January, which coincides with Brazil’s typical wetter season.
