The soybean sowing in Brazil has reached 95% completion, with the crop's condition generally reported as good. Although sowing was initially delayed due to unfavorable weather, the pace picked up later, and recent torrential rains in southern Brazil alleviated a drought crisis. The heaviest rainfall was observed in the Parana and Santa Catarina provinces.

The US Department of Agriculture (USDA) has estimated Brazil's soybean production for the 2024-25 season to rise to a record 169 million tons, up from 153 million tons in the previous season.

However, while southern Brazil is expecting more rain this week and the central states next week, the northeastern region is facing a significant lack of rainfall, which is a concern.

By this time last year, 91% of soybean sowing had been completed in Brazil. Currently, sowing is nearly finished except for in Rio Grande do Sul and parts of the northeastern region. Major soybean-growing states like Mato Grosso and Parana have completed their sowing.

As Brazil remains the largest producer and exporter of soybeans globally, analysts are predicting a record production of around 170 million tons this year. If weather conditions remain favorable, production could exceed this estimate, with harvesting expected to begin next month.