Brazil maintains soybean production estimate at 169 million tonnes

18-Apr-2025 06:18 PM

Paranagua. Brazil has kept its soybean production estimate for the 2024-25 season unchanged at 169 million tonnes. Harvesting is nearly complete across the country, with only the far southern state of Rio Grande do Sul lagging behind due to wet weather.

Nationwide, about 89 percent of the crop has been harvested, while in Rio Grande do Sul, harvesting is around 51 percent.

Chinese buyers are importing Brazilian soybeans in massive quantities as trade with the US remains stalled amid a tariff dispute.

Last week alone, Chinese importers booked over 60 vessels of soybean from Brazil—a new record.

Brazil is the world's top soybean producer and exporter, and China is its largest customer, accounting for around 70 percent of annual exports.

Brazil's soybean exports are on track to hit a new monthly record in April 2025, expected to exceed the previous record of 13.5 million tonnes.

So far, 4 million tonnes have been shipped, with another 10 million tonnes expected. Large stocks are visible at Brazil’s major ports, where shipments are progressing at a rapid pace.