For the first time, Brazil may plant more soybeans than the U.S.
Brazilian farmers are getting ready to plant soybeans in September, and the government expects higher plantings once again. Analysts estimate the planting of around 36.3 million hectares (89.7 million acres), surpassing U.S. plantings for the first time.
Brazil’s soybean plantings have been expanding at an average rate of 5 percent a year for the last 12 years. Total 2018/19 Brazilian soybean production is now forecast at 120.5 million metric tons. USDA expects Brazil to export 75.00 million metric tons, or 63 percent of the crop.
Brazil monthly soybean exports
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