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Post projects an increase of 100,000 hectares in soybean planted area and production of 51.5 million tons for marketing year 2021/2022.
Oilseed production is expected to rebound in marketing year (MY) 2021/22, as high international prices should encourage farmers to increase their soybean planted area.
For Marketing Year (MY) 2020/2021, Nicaragua's peanut production reached over 194,000 metric tons (mt), which is a 21 percent increase compared to the previous cycle
Post forecasts that Brazilian producers will expand soybean planted area to reach 40 million hectares (ha) in 2021/22 season, up from the estimated 38.5 mn ha planted in the 2020/21 season.
Post reduces estimated 2020/2021 soybean production to 2.125 million tons on dry conditions in February and early March, resulting in reduced exports of 1.97 million tons.
Post reduces estimated 2020/2021 soybean production to 2.125 million tons on dry conditions in February and early March, resulting in reduced exports of 1.97 million tons.