Brazil's soybean output will fall between 72.2 million and 73.3 million tonnes next year, the first decline in three years, Agriculture Ministry says
October 6, 2011
– Brazil’s soybean production will fall for the first time in three years as record yields seen last year won’t be repeated, the country’s Agricultural Ministry said Oct. 6, Bloomberg reported the same day.
Soybean output will fall between 72.2 million and 73.3 million tonnes next year, a decline from 75.3 million tonnes this year, according to 2012 crop projection from the ministry’s Conab forecasting agency.
Planting of next year’s crop started last month and will increase an average of 2.8%, while yields will decline 6% as favorable weather seen last year is not likely to be repeated, Conab said.
Corn production is projected to fall between 57.3 million and 59 million tonnes, versus 57.5 million tonnes in 2011, according to Conab. Corn acreage will grow around 3.6% as farmers switch to corn from soybeans amid rising prices.
The primary source of this article is Bloomberg, New York, New York, on Oct. 6, 2011.