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Brazil's soybean crop 'exceptional' as harvesting progresses - AgRural
[SAO PAULO] Brazilian soybean production in the 2019/2020 cycle is expected to reach a record of 125.6 million tonnes, agribusiness consultancy AgRural said on Monday, as more than a fifth of the planted area has now been harvested.
The estimate was revised from 123.9 million tonnes in January, when harvesting was still in the early stages.
Brazil has collected 21 per cent of the total soybean area so far in the season, below the 36 per cent level seen in the same period a year ago and in line with a five-year average.
If the current projection is achieved, Brazil, the world's largest exporter and also the largest producer of the oilseeds in the 2019/20 cycle, will add more than 10 million tonnes to last year's production, which official estimates pegged at 115 million tonnes.
"An exceptional Brazilian harvest," analyst Adriano Gomes told Reuters in a telephone interview.
Regarding Rio Grande do Sul, AgRural expects a reduction in productivity in that key state due to dry weather will be compensated by strong yields in other regions.
AgRural is projecting soybean yields for Rio Grande do Sul at 51 60-kg bags per hectare this year, compared with 55.4 bags in the previous season, according to government estimates.
On the other hand, AgRural forecasts record output in several states including Mato Grosso, Goiás, São Paulo, Minas Gerais and Santa Catarina, more than making up for losses in Brazil's southernmost state.