USDA Forecasts Planted Soybeans In Brazil Will Double This Decade

AgriPulse

Brazilian soybean and corn production are forecast to continue increasing dramatically over the next two decades.

According to a report by USDA's Foreign Agricultural Service, Brazil's Ministry of Agriculture estimates Brazil will be producing 152 million metric tons of soybeans (a 33% increase) and 115 million tons of corn by the 2028-29 marketing year,

Most of the increase in corn planting is expected to come from Brazil's second crop, usually planted after the soybean harvest and on the same acres. First-crop corn continues to decline as farmers steadily shift to soybeans.

Brazilian soy and corn acres will be pushing into a lot of pasture land, but they'll also be crowding out rice, dry beans, and wheat. Planted area for soybeans is expected to grow by 109% for soybeans and 30% for corn.