Area is estimated at 27.5 million hectares, unchanged from last month and up 2.5 million hectares, or 10 per cent, from last year.
Yield is forecast at 3.00 tons per hectare, compared to 2.66 tons per hectare last year and the five-year average of 2.85 tons per hectare.
Yield prospects for Brazil soybeans have increased due to good early season conditions in the key states of Mato Grosso and Parana. Soybean crop stages vary considerably across the country.
The harvest of the early varieties in Mato Grosso has begun as the last of the soybean planting in Brazil is finishing.
Brazilian farmers reacted enthusiastically to high soybean prices this year and increased area by 10 per cent to a record 27.5 million hectares.
Brazil is forecasted to be the world’s largest producer of soybeans, surpassing the United States this year when the United States suffered through its worst drought in 50 years.
