Brazil is expected to achieve a record soybean production of approximately 1700 lakh tonnes in the 2024-25 season, according to leading market analysts. This estimate is slightly higher than the 1690 lakh tonnes predicted by the U.S. Department of Agriculture (USDA).

Brazil, the world’s largest producer and exporter of soybeans, benefits from favorable weather conditions for soybean crops, with forecasts of more rain in the coming weeks to alleviate drought concerns in the northern and northeastern regions.

While soybean sowing is nearly complete, some areas in the north may require re-sowing due to weak seed germination. One estimate even suggests a historic peak of 171.5 million tonnes, though other forecasts place the production between 1690 and 1700 lakh tonnes.

Official estimates, such as from Brazil’s federal government agency CONAB, have set the figure at 1662.10 lakh tonnes in December, a slight increase from November's estimate of 1661.40 lakh tonnes.

Soybean crops in the Parana province, where early sowing occurred, are already approaching harvest readiness, and in Mato Grosso, the crop is progressing well.

The expected yield in Mato Grosso is 55-60 bushels per acre. As of late January or early February, harvesting will commence in these regions.

This year’s production conditions are generally favorable, with analysts likely to reassess estimates in mid-January when harvesting begins.