By Ana Mano
SAO PAULO, Nov. 13 (Reuters) – Brazil’s Conab said the country will reap a record soybean crop of 177.6 million tons in the 2025/2026 harvest year, according to data released on Thursday.
The world’s largest soy producer and exporter is also expected to ship an unprecedented 112.1 million tons to China and other nations, up 5.11% from the previous crop year, the Conab crop agency added.
The U.S., one of Brazil’s main competitors along with Argentina, is expected to export less soy in the coming months.
“With the projected reduction in U.S. exports, the increase in global demand, and the expansion of Brazilian production, significant growth is estimated in Brazilian exports,” Conab said.
In addition, the expectation of an increase in the mandatory blending of biodiesel with diesel, as well as growing demand for vegetable protein, suggests that the volume of soybeans destined for crushing in the domestic market could reach 59.37 million tons in 2026.
Brazilian farmers are also likely to reap a large corn crop despite a projected fall of 5.4% in overall yields.
Brazil will harvest almost 139 million tons of corn in 2025/2026, a 1.6% drop from the previous crop year. Despite the slight fall in total projected corn production, Conab said farmers will increase the country’s corn area by 4% to 22.72 million hectares (56.142 million acres).
Brazil plants three corn crops each year, with second corn contributing the most output.
In the present crop year, Conab said Brazil’s production of second corn, which is planted after soybeans are harvested in the same areas, will be 110.46 million tons, reflecting strong yields and a 3.8% rise in planted area to 18 million hectares.
(Reporting by Ana Mano; Editing by Jan Harvey and Ed Osmond)
