Report predicts continued growth in Brazilian soybean production
A new report from Brazil’s Ag Ministry predicts the country’s soybean production will continue sharp increases over the next decade.
Soybean production is forecast to reach 152 million tons by 2029, an increase of 33 percent from 2019 production. The report says farmers will continue to convert degraded pastureland into soybean area, fueling the sharp increase.
Soybean production in Brazil has been on a steady incline, increasing by 67 percent over the past decade.