Datagro forecasts Brazil's 2023/24 soybean production:

Datagro forecasts Brazil's 2023/24 soybean production will reach 156.57 million tons, down 4.4% from the estimate given in October, due to weather-related problems in the Central region this country. If confirmed, the above production level will be 0.4% lower than the record level of 157.2 million tons in the 2022/23 crop year. According to an economist and head of research at Datagro, these are only preliminary figures and may be adjusted in upcoming surveys. In the third crop survey, Datagro said Brazil's 23/24 soybean area reached 45.36 million hectares, an increase of 1.5% compared to previous seasons, and confirmed that the year The 17th consecutive expansion of this oilseed cultivation area. However, due to erratic climatic conditions, the average yield outlook has been revised downward and is likely to decrease further depending on weather developments, Datagro said.