In Ukraine, UkrAgro Consult reported that Brazil’s National Supply Company expects soybean acres to increase by 3.5% to 121 million, which could push the country to record high soybean production of 6.5 billion bushels.
The report noted that corn acres in Brazil are expected to expand by 4% to 56 million, with production pegged at 5.46 billion bushels, down 2%.
The report noted that the expansion for corn is driven mainly by rising domestic corn consumption supported by stronger demand from the livestock feed and corn ethanol industries. But the predicted production decline reflects an expected reduction in yields, following last season’s record-high production and productivity. The increase in soybean acreage is being influenced by strong domestic demand, especially for biodiesel, and international demand.
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Category: Food & Agriculture
