Brazil Likely to Remain World Leader in Soybean Production

Brazil is projected to retain its position as the largest soybean producer over the next decade. In the 2020/21 season, Brazil produced a record of 4,994 million bushels of soybeans, up 8.9% from last season’s record crop of 4,587 million bushels, according to data from the National Supply Company (Conab). The area harvested this season is also at a record of 95.16 million acres, up 4.2% from last season. The growth of Brazilian acres are expected to be continue higher than the United States and Argentina, two of the other major producers of soybeans. In addition, recent advances in logistics, such as on the railroad called the North-South, should create opportunities to improve competitiveness in the transportation sector.

Production Growth Forecast

In recent years, Brazil surpassed the United States as the world’s largest soybean producer. In the future, Brazils grain production is projected to outpace that of the United State. The Ministry of Agriculture, Livestock and Supply (MAPA) projects that Brazil will produce 5,751 million bushels of soybeans in 2030, an increase of 15.2% compared to the 2020/21 crop (see Figure 1). In the United States, production should reach 4,905 million bushels in 10 years, an increase of 18.6% in the same period, according to the U.S. Department of Agriculture (USDA).­­

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Published on FarmdocDaily 12/07/2021.