StoneX confirms record soybean harvest in Brazil

Brazilian soybean production in the 2024/25 harvest was consolidated at 168,25 million tons, a new national record, according to a survey released this Monday (2) by StoneX. With the harvest already completed, the last adjustments were specific, such as the reduction in production in Piauí due to the dry weather in February.

Ana Luiza Lodi (pictured, left), Market Intelligence specialist at StoneX, explains that despite the record, productivity was affected by adverse weather conditions, especially in Rio Grande do Sul, where the average was 2,13 t/ha, below the national average of 3,56 t/ha.

In the supply and demand balance, StoneX projects exports of 107 million tons and domestic consumption of 60 million, with final stocks estimated at 4,45 million and a stock/use ratio of 2,66%.

For corn, the consultancy raised the estimate for the second harvest (safrinha) to 106,1 million tons, given the good development of crops in the Central-West, Paraná and São Paulo. With this, total corn production in the 2024/25 cycle should reach 134 million tons, also considering the third harvest and a slight decline in the first harvest, estimated at 25,7 million tons.

“With the start of the harvest, the results of the second crop will be consolidated, but the climate is still on the radar, with crops planted later going through important phases”, ponders the Market Intelligence analyst at StoneX, Raphael Bulascoschi (in the photo, on the right).

The robust supply of corn should easily meet domestic demand, revised from 87 to 89 million tons, driven by growth in the corn ethanol sector.