Brazil: Oilseeds and Products Update
Link to report:
Post forecasts soybean planted area at 36.5 million hectares in 2019/20, up negligibly on the 36.2 million hectares sown for the past crop. Producers are hesitant to invest in expansion as demand from China is expected to remain subdued. Meanwhile, production costs are expected to rise yet again next season, cutting into margins. Production is forecast at 123.5 million metric tons (mmt) based on trend yields. Soybean exports are forecast at 75 mmt for 2019/20. Post revised 2018/19 export estimate down by one mmt, to 68 mmt.
