Brazil is expecting a record soybean crop in the 2024/25 season, with exports forecasted to reach 102 million tonnes, according to the consulting firm Stone X.

Based on the forecasts of the international consulting company Stone X, the income year 2024/25 will be exceptional for Brazil in agriculture. It is expected that the soybean crop will reach a record level of 165 million tons, significantly higher than the results of the previous year (149 million tons harvested in the 2023/24 season), despite challenging weather conditions. Such a splendid soybean production is expected due to the return to a normal yield level of 3.55 tons per hectare and assuming no serious climate changes, as well as an expansion of sown areas.

During the 2024/25 period, Brazil plans to sow 46.53 million hectares with its soybeans, slightly more than in the previous season (46.16 million hectares).

However, it is expected that the production growth will be less significant compared to previous years due to less attractive soy prices. Experts also forecast that Brazilian soybean exports in the 2024/25 period will reach 102 million tons, exceeding the expected result of 92 million tons in 2023/24 and setting a new record (the previous maximum was 101.87 million tons in the 2022/23 period).

Earlier, Brazilian customs authorities noted an improvement in soybean exports in July of the current year - the volume reached a record 11.2 million tons, which is 16% higher than the July 2023 figure (9.69 million tons).